NEM continues to stay within the defined channel and above the 50 EMA. Recent support has held and indicators are turning up suggesting further gains. In addition, the recent consolidation area looks to have been cleared on a closing basis which should limit resistance. Looking for another visit eventually to the top of the channel. The most recent move was completed with some light volume over the holidays so this should be watched closely, however, until price says otherwise, the trend is still up.
http://stockcharts.c...21438627,Y].gif
NEM
Started by
PIK.
, Dec 28 2003 02:20 PM
No replies to this topic
#1
Posted 28 December 2003 - 02:20 PM
Trade based on what you see happening, not what someone else thinks or hopes will happen.