NM I just got in this stock friday, Im a newbie, does anyone agree or disagree that today was the top for nm, and whats the best way to get out tommorow. Or should I stick it out, I dont want to sit on this for a month waiting for it to come back. the volume decreased , I thought I read that when volume decreases on a pullback it will bounce back quick. and opinions today april 23 2007 would be apreciated.
If I wanted to get out of this stock in the morning, is best to wait and see? put a market order in now? or put a limit order on in the morning? or am i overreacting. shoud I follow the trend line up, and not worry, kinda scary.
That looks like scottrade charts . NM is over-bought, but that doesnt mean its a top, just be carefull. http://stockcharts.com/h-sc/ui?s=NM&p=D&yr=0&mn=7&dy=0&id=p90893460114
Thats because thats who i use too. You do know that you can get better charts on the streamer?.... The ones on the site arent that good.
What the other poster said was correct.. Its overbought but this doesnt have to be the top . NM has a history of pausing after a few bars of rallying. You have five white bars which IMHO means you;re going to have at least one more down day. Note I said "at least". What are you doing getting in on a stock that was that overbought ? Were you looking at the cross above the previous high at 8.5 ?
: When I bought on friday I thought it had broken above the previous high/resistance at 8.71. ?? how does that work? anybreakout would look overbought??wouldnt it thankyou for responding