NOW is again on a technical rebound after hitting the support line of its uptrend price channel. The trend reversal was signaled by a Bullish Harami candlestick pattern as it hits the support area.
*Observe the volume on every pullback as well as the volume when it hits the resistance line of the price channel. A significant deviation from this pattern will likely warn a new direction of future price action.
See previous analysis as it hits the support line of the price channel including appropriate trading plan:
https://psetrends.blogspot.com/2017/03/now-price-action-is-back-to-uptrend.html
See previous analysis for reference on the prior pullback.
https://psetrends.blogspot.com/2017/03/now-bearish-pattern.html
Trading Plan
- Range trade the price channel.
- Set appropriate stop-loss on every trade.
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