NGLFINE appears to have bottomed out, now showing strong signs of a potential reversal:
1. RSI is strengthening. 2. Positive divergence is visible in RSI. 3. The stock is now trading above the 20EMA band.
A minor pullback to retest the 20EMA band is possible before the stock resumes its journey toward its all-time high.
As a Stoploss. either you can use 20EMA band or previous swing low, marked in the chart.
Disclaimer: This analysis is based on personal observations and is for educational purposes only. Please conduct your own research or consult a financial advisor before making any investment decisions.
@@ Always adhere to your risk-reward ratio before entering any trade. @@ Maintain discipline in all trading activities. @@ Ensure strict compliance with the marked stop loss.
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