**NECA UPDATED TECHNICAL ANALYSIS 12/6/16**
1. Summary: This one will be a little short as I missed 2 hours of the trading day due to a lunch appointment I had. Overall once again after a large green day NECA has shown itself to have another consolidation day, which is very normal for NECA and any very healthy trading stock. We need this for continuation into the .0018-.002+ area so today was actually very good. To just add to how good today was we set a higher low being that .0012 and a higher high being .0017 showing bullishness.
2. Chart: As stated above higher low higher high. The RSI on my 5 day intraday charts I like to use show an RSI of 41 which is oversold so it is very probable that we see a bounce tomorrow. The important level as many probably know to regain is that .0014 - .0016 channel.
3. Channels: Today we closed back in the .0011-.0013 channel being our old channel. Will it last? Doubt it, I may even add a nice chunk here tomorrow for the .002's. Already way to many shares traded in this channel the past week, it will springboard as long as people don't lose their brains. .0014- .0016 is the channel we need to regain, but today made it much easier. We had approximately 100 million alone traded in that channel today which is honestly why I'm even surprised it closed where it did, appeared to be a nice paint job/forced close to me. Over the last two days we have had about 193 million traded between .0014-.0016 just to give you guys an idea of what I mean. Just like every other time with NECA that is to many shares traded in there, it should springboard shortly to .0018-.002 channel.
Volume: Little lower volume today which to me shows little sell pressure, people not actually wanting to sell even though it is red which is a great sign and it correlates to the channel volume above. Our buy volume still outweighed the sell volume as well 87 million buys to 82 million sells which means still more ask hitting then bid dropping.
Tomorrow: I expect a bounce tomorrow back into the .0014-.0016 channel. I may even add a sizable chunk at 12/13 if I'm able before it bounces back up. If 16 breaks which is very possible tomorrow 18-.002 should be easily achievable. The only reason it didn't today was because of the little to steamy RSI which is now nicely reset on my chart to achieve that .0018-.002 area.
Questions just ask.
-Sunny$$
Millionaire at 21.I consider myself one of the best technical traders and I would challenge anyone to that. I run a very successful day-trading team and have been an apprentice under some of the greatest day-traders and financial wizards from Wall Street.
