Matt I have been looking at your chart patterns and reading your post and trying to understand charting. And the stock that I heard about today was called NENE. What I noticed was that it matched I think the descending triangle bearish pattern in your intro box.
Could you tell me if that is correct and it looks like it could drop down further. So I was wondering if that would be a good stock to short in the near term. I am learning about shorting too and there is a person on IHUB teaching me how to do that.
Also what chart settings do you usually use to verify whether the stock is trending up or down. Thank you.
Could you do an analysis for me on NENE this would be to ensure not to short too early. Thank you.
I would only short about 25k to 50k shares on the first round. Then maybe add more to my position after it starts declining in price. Thank you.
This looks like it would drop down to $2.00 then go below that then it would go to what I think are the support levels of $1.96, $1.93, $1.85, then $1.80, $1.72, $1.60, after that I do not see support till $1.50. is this correct? Is this is correct then you could potentially short from the $2.00 down to $1.50 and cover at that point, yes? Thank you.
Anything that I state is speculation and my opinion only. Please do not take anything I say as information you should invest on.
