We need an entire day above the "max time" level mentioned on the chart for a 16-day rally towards 28/sh.
Earnings are due in 7 days, so be mindful of that. If you can't accept a major move against you, then don't take this trade.
If the buy signal triggers, then we can look for a rally for 16 days that could carry up to the measurement from the low up to the "max time" (22.20 up to 25.14 = almost 3pts up to 28 for a target).
Note how well NEM has moved with these "TIME AT MODE" concepts in the past. Note the many other "time at mode" charts I have presented here at TradingView.
25.36 last NEM
Tim 1:02AM EST 7/22/2014
Komentarze
PenName
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I strongly recommend an outright purchase of NEM today, now that Mr. Joko Widodo has been elected the new President of Indonesia today by 53% of the vote cast. Why ? Mr. Joko Widodo is strongly pro-business, as he was a Business Man himself before being elected Governor of Jakarta in 2012; therefore, Mr. Joko Widodo will change the current law in Indonesia which caused NEM to institute a Force Majeure at its huge Copper Mine in Indonesia in early June 2014 on its Copper Concentrate Production in accordance with its CoW (Contract of Work) signed in 1986, and then file for Arbitration as per the NEM CoW. This Force Majeure allows NEM to pay its Indonesian Workers only 20% of their normal pay until the end of 2014 when all stored Copper Concentrate will have been shipped to the local Copper Refinery. This brilliant NEM Force Majeure will add approximately $0.10 EPS to the NEM Q3 and Q4 Earnings Reports. Look to it ! July 22, 2014 @ 10:41 a.m. PDT.
A-shot
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in 2014 Indonesia Index has been going up, and today it was down by around 0,8%. So the elections were considered with not the best results?
A-shot
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This sideways going is strange. It was trading above the max time. Is this still in play?
A-shot
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Thanx! So as i understand, only some stocks are successful with the time-at-mode and you only use that one and post ideas on stocks you back-tested?
timwest
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Time at Mode works great. I'm not sure what you are saying "only some stocks are successful"?
A-shot
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For instance i find that CCI is a better indicator of a change trend on stocks like ABX over AMD for instance, so i was wondering if time at mode is working just like that is working better for some than the other - as you dont apply that method in your ideas so much recently.