Enough annotations, line and arrows that it mostly speaks for itself. If I draw enough pathways hopefully one will be right; of course it helps to read it in the context of a gold bull market. The channel has flattened since my last attempt at a log chart but I think this one is strengthened by the 200MA touches. I am happy with anything on the lower blue rail of...
Using the breakout point of 18 with the height of A to B (5.5), this gives a conservative price target of 23.5. Using the top of the pennant, a bullish target of 26.5. Using tradingviews new VPRF tool (free to all users), analysing the pennant indicates a great amount of buy up than sell down. All good news, lets see where the next consolidation zone starts! :)
If this is in play, then a potential 13-15 cent target may play out. With news being driven late into the year. There is only upside for this stock. Stop would be below the break point, to play it with some caution.
$NVA $NVA.ASX
Consolidation is getting tight - gold stock
Business Summary On June 2020
Nova Minerals Limited (NVA, formerly Quantum Resources Limited) is an Australiancompany with interests in a portfolio of mineral projects at exploration stage withfocus on North America (Manitoba, Canada and Alaska, USA) and one joint ventureproject ...
NVA is an Australian explorer with projects in WA and NT. Its projects are prospective for gold and base metals. Retracing deeply from a high of $0.71c, it has twice tested the $0.30-0.35c zone. Same advice again - prudent to wait for a break above the $0.57c level though the price action looks favourable. Keep an eye open for RSI divergence which may hint of a...
Longer Term TA
From June to September 2019 it ran 238% !
Looking to enter with the below confirmations:
Bullish MACD Crossover on a 3 day candle
ADX and Green bars to change to green with increased momentum.
Short Term TA
Considering it has increased by 44% in 26 days, people may take profits now and/or after 2019. It has pushed through the 200 and 314 EMA's which is very bullish, waiting for it to push through and hold above the previous resistance line $0.45 This is where we got rejected and retraced considerably. If we hold support and begin trending between the...
Ive been watching this trade patiently. We found support at the .618. ADI hasn't turned up yet, but al other indicators are in agreement. A good 40% retrace with potential continuation.
Nova Minerals has had a great run, we are now seeing a possible double top formation, and i am looking for a healthy retrace for a move higher. RSI is extremely overbought. We haven't made a higher high on the hourly, so we need to look closely to see. I dont think there is much room for a further increase until we cool off a bit. Worth keeping an eye on !
FOR...
NOVA has been retracing for some time after a huge uptrend. Im watching to see if we will find support at the noted key level were we have found support previously. Currently not intending to catch a "falling Knife" but worth keeping an eye on.
$NVA - Daily, Price is testing res zone, reversal not confirmed yet imo...if price can go past 3.0 and based around the level..reversal could be in play IMO..Let's see...
GL!
