Archie's Corner

[2desire]

NRES Technical update by Wizard321 (RB)

NRES Technical Update.

Another good day today, pretty solid action all around.

Today we're going to look at 3 charts, and we have some stuff to chew on this time around. Based on what I'm seeing, Tuesday is the day, this one is for all the marbles folks, read on.

The first chart is NRES and where we ended up today, we have some curious developments. First notice we are almost at our double top area, we need to get past that no doubt. Next, notice how steep our blue upward trending line is becoming, it seems now that with every day we close up 5/100, we are still right in the middle of the channel, just like we were on Friday, this implies serious upward mobility is possible in the near future.

Next, notice how tightly packed together the candles are getting from today backwards for about a week, this is suggesting to me there is serious strength behind our current upward move. Then notice the white candle we got today, the body is actually sitting on top of Fridays candle, this is normally very bullish.

http://members.aol.com/computecchie/nres/nres_572001.gif

The next chart is something I just stumbled on today, it is in reference to the Bollinger Bands. I don't normally look at these bands too often but I'm glad I did today. The Bollinger Bands are seriously contracting together, which implies an explosive move is about to take place, I would say within 2-3 days. I'm just praying that the move is not down although, I don't believe it will be. There has been some discussion on whether or not the dotted Bollinger Band is actually a middle band or the bottom band, I maintain my belief that it is the bottom band, and I'll just leave it at that.

http://members.aol.com/computecchie/nres/nres_572001_2.gif

The last chart is the Nasdaq, we are still in a double top formation, and it looks like the Nasdaq has been seriously struggling over the last 5 days to overcome the double top. If you draw an imaginary resistance area around the top, you'll see it's been going up to and bouncing back off of it, not a good sign. This is one of the things I'm worried about with NRES, I sure hope we can blast through that resistance line and leave the double top in the dust.

Something else that's a little troubling, I've noticed over the last couple of weeks, it seems like NRES price movement is somewhat imitating what the Nasdaq does, I know the OTC and the Nasdaq do have some correlation between them. This is going to be the true test behind what kind of momentum is behind NRES, I still believe the Nasdaq is going to tank by 200 points short term, and by about 500 points medium term (5 weeks). If that happens, that would put the Nasdaq at a perfect double bottom, and that would signal "everybody into the pool".

http://members.aol.com/computecchie/nres/nasdaq_572001.gif

In summary, Tuesday puts us in the money position, do we blast up through resistance into our new target area? or do we tank the other way? My honest belief is NRES is setting up for a serious move to the upside, with the steady stream of PR's, construction starting, and good volume trading each day, we are looking stronger than we have in quite a while. I'm getting the impression that the closing of the Connecticut deal was some sort of a catalyst that has sparked some serious investor interest in our little micro company.

I also saw a few posts today that mentioned, more MM's are getting in on the action, this is a very good sign that NRES may be ready to start jumping. I would like to know the website for seeing the MM lineup for NRES if anyone knows where it is.

To end, we are at a crucial fulcrum point right now, we must move up and away from the double top area, and we must break through the next resistance line with conviction. If we can do that, I'd say we're set for a big rally, if not, we'll have to reassess where we are each day.

Keep your fingers crossed, hope for the best, and good trading to all!

Wiz....