**THIS IS NOT FINANCIAL ADVICE**
This to track how well my technical analysis is for securities I may or may not be invested in.
There is a lot going on this chart but I cleaned it up as best I could so that what I see is a bit clearer.
On this chart you see:
1) A fib channel from the december low/march high/june low.
I have removed a lot of the other levels to clean up chart and focus on the most relevant levels that have acted as strong support/resistance.
I have also made the lines dashes and thicker to distinguish it from the fib retracements.
You will thick dashed diagonal lines in orange, yellow red and grey on the top and bottom of channels
2) Two downward channels that NNDM has traded in after a low to high run.
3)Two fib retracements of the last two runs*. I only have the .114/1.114 and the high low points for a reason. They are all that matters for this thesis.
Take note of the 1.114 of the first runup and look at the 1.114 of the last runup
4) Three date/price ranges. The orange horizontal and vertical arrows with white labels showing the percentage of the move, length and volume in white text.
Two of them are based on the last two runs* and the third is a run from the bottomm to anticipated top based on the fib channel (log mode)
5) My customary Supply/Demand zones.
6) A vertical blue line of the range for the latest we hit 3.50.
Based on the current trend I think NNDM is headed to 3.50 and probably at least a weak test of the supply zone that starts at 3.59 by May. June at the latest.
If the test of the supply zone fails, which I think is highly likely, then we are most likely headed back down to test the 2.38-2.47 demand zone.
This will possibly coincide with the bottom of the fib channel depending on timing. We should at least see a sell test to that level and a wick down.
I am still bullish on the stock cause even if the bearish portion of my thesis plays out, it is still a higher low and higher high since the spring/sell test I called out in December 2022
*Runs: Last two runups were from:
December 12th 2022 to March 6th 2023
June 26 2023 to July 27th 2023
This to track how well my technical analysis is for securities I may or may not be invested in.
There is a lot going on this chart but I cleaned it up as best I could so that what I see is a bit clearer.
On this chart you see:
1) A fib channel from the december low/march high/june low.
I have removed a lot of the other levels to clean up chart and focus on the most relevant levels that have acted as strong support/resistance.
I have also made the lines dashes and thicker to distinguish it from the fib retracements.
You will thick dashed diagonal lines in orange, yellow red and grey on the top and bottom of channels
2) Two downward channels that NNDM has traded in after a low to high run.
3)Two fib retracements of the last two runs*. I only have the .114/1.114 and the high low points for a reason. They are all that matters for this thesis.
Take note of the 1.114 of the first runup and look at the 1.114 of the last runup
4) Three date/price ranges. The orange horizontal and vertical arrows with white labels showing the percentage of the move, length and volume in white text.
Two of them are based on the last two runs* and the third is a run from the bottomm to anticipated top based on the fib channel (log mode)
5) My customary Supply/Demand zones.
6) A vertical blue line of the range for the latest we hit 3.50.
Based on the current trend I think NNDM is headed to 3.50 and probably at least a weak test of the supply zone that starts at 3.59 by May. June at the latest.
If the test of the supply zone fails, which I think is highly likely, then we are most likely headed back down to test the 2.38-2.47 demand zone.
This will possibly coincide with the bottom of the fib channel depending on timing. We should at least see a sell test to that level and a wick down.
I am still bullish on the stock cause even if the bearish portion of my thesis plays out, it is still a higher low and higher high since the spring/sell test I called out in December 2022
*Runs: Last two runups were from:
December 12th 2022 to March 6th 2023
June 26 2023 to July 27th 2023