On the daily it was a massive bearish candle with a bearish volume as well. So I thought ill go shot with this one, it also had a massive bull run for the past 5 days, so a pull back was due.
1 min: it did gap down and open at $3.10, waited for a pull back and got in at $3.10 with 1000 shares. Just only made about 5 ticks because I saw on the depth it was about...
When the price opens above a significant resistance area it is known as a Breakaway Gap.
This is a bullish signal and indicates the start of a strong trend.
Although some would argue that gaps must be filled it is important that we identify what type of gap we are looking at.
Breakaway Gaps are usually backed by a positive announcement and in this case it is;
...
Price now outside the bollinger bands and RSI screaming overbought, but of course it doesn't mean it can't get more extreme, especially in this market. Moves like these will eventually end the same way, but make up your own mind.
I foresee, a side trend before a breakout in the near future.
Novonix has the key ingredients for it to succeed.
And poise for exponential growth in the battery industry in the future.
i have been following Novonix for only almost a year, regardless of BD. Novonix seems to be gaining momentum. strong company with good fundamentals and business model overall long.
Who cares.
Sorry but Ive made the mortal mistake of not being long on leading/trending stocks. Who cares why it went up. Just let it hit your stop to take you out after selling a few on the way up.
This thing was accumulating the whole time. I just couldn't get it out of my head that they burned me on the 28c raise. and bla bla bla. Rather than. this thing just wants to go up.
I don't know where it goes from here, but its got a few TSLA style fanatics onboard, so hopefully $1900.... No one knows.
Novonix Limited (ASX: NVX) is an integrated developer and supplier of high-performance materials, equipment and services for the global lithium-ion battery industry with operations in the USA and Canada and sales in more than 14 countries.
Bulls Hunting +100%
Huge Fractal Bullish Pennant
+ Targets 1.925 & 2.800 From point of break
Fib Extension Targets
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After raising recently at 29! Yes 0.29c this stock looks ready to move higher on the promise of a North American listing and hopefully more substantial developments of their battery tech.
Novonix(NVX)-price chart analysis
Share prices have bounced at critical support around 0.885 and could continue to the upside if it breaks and hold above 1.065
