NCS completed an inverted head and shoulders in pre-market. going long for price target of 17.30.
price may pull back and form additional right shoulder, (peep the RSI) for a target of around 19.35, but we'll cross that bridge when we get to it fam.
this is a risky trade, stop loss accordingly.
STAY UP
SK
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Breakaway gaps don't tend to fill, or at least not for a long time. Instead, the price tends to run in the same direction as the breakway for some time after. The times when breakaway gaps do fill, the breakout direction usually prevails. The price may move back to where the gap started, fooling traders into thinking the gap was a false breakout, but then the price usually keeps moving in the breakaway direction.