Since accumulation has been more than a year, daily chart would be too busy so this is done on the weekly.
You can reference my previously published daily chart.
NNDM Could be ready for another markup phase
My last chart called for a possible markup after a spring in December.
Acquisition news killed that momentum right at a major supply zone.
Price fell and I believe this was a sell test. Price bounced off of $2.16 to start forming a possible second shoulder for a bullish head and shoulder pattern.
The other shoulder was formed in May of 2022 when price bounced off of $2.17.
We can see another rally into earnings and if earnings are really good and advancement in AI tech is mentioned.
A massive run could ensue based on how algos are working today.
There are several minor supply/demand/support/resistance zones between the current price and the major supply and resistance that starts around $2.96. Those are in orange.
The real test of a breakout starts in the $3.50's where the neckline begins and the move could show real signs of strength.
I would be surprised if it doesn't fail the neckline and then fall back to the supply zone turned demand zone below which should be support.
It can have a minor accumulation and then move up to test the golden pocket* at $4.62 - $5.17 or fail the creek/neckline and we go back in the prior trading range.
*Golden pocket is the 618 - 65 fib level. You can see fib levels to the left. This is a fib retracement from the March 2020 low to the Feb 2021 high. $2 is the .382
If you must do a stop loss, I would do it below that. Personally I don't believe in putting a stop loss on tape.
$3.04 is the .5 and in the middle of a resistance zone and has been a huge resistance level.
I won't put them on here cause it would be too busy but it is important to note some major moving averages or in or right around resistance zones:
200 weekly is at the neck line.
13 EMA is right at the lower orange minor zone.
30 Weekly MA is right at the next orange minor zone. This is for the Weinsteiners out there.
The upper minor orange zone is sandwiched between 50 MA and 48 EMA on weekly.
You can reference my previously published daily chart.
NNDM Could be ready for another markup phase
My last chart called for a possible markup after a spring in December.
Acquisition news killed that momentum right at a major supply zone.
Price fell and I believe this was a sell test. Price bounced off of $2.16 to start forming a possible second shoulder for a bullish head and shoulder pattern.
The other shoulder was formed in May of 2022 when price bounced off of $2.17.
We can see another rally into earnings and if earnings are really good and advancement in AI tech is mentioned.
A massive run could ensue based on how algos are working today.
There are several minor supply/demand/support/resistance zones between the current price and the major supply and resistance that starts around $2.96. Those are in orange.
The real test of a breakout starts in the $3.50's where the neckline begins and the move could show real signs of strength.
I would be surprised if it doesn't fail the neckline and then fall back to the supply zone turned demand zone below which should be support.
It can have a minor accumulation and then move up to test the golden pocket* at $4.62 - $5.17 or fail the creek/neckline and we go back in the prior trading range.
*Golden pocket is the 618 - 65 fib level. You can see fib levels to the left. This is a fib retracement from the March 2020 low to the Feb 2021 high. $2 is the .382
If you must do a stop loss, I would do it below that. Personally I don't believe in putting a stop loss on tape.
$3.04 is the .5 and in the middle of a resistance zone and has been a huge resistance level.
I won't put them on here cause it would be too busy but it is important to note some major moving averages or in or right around resistance zones:
200 weekly is at the neck line.
13 EMA is right at the lower orange minor zone.
30 Weekly MA is right at the next orange minor zone. This is for the Weinsteiners out there.
The upper minor orange zone is sandwiched between 50 MA and 48 EMA on weekly.