Nordson (NDSN): Is This Sustainable?
SUMMARY
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This weekly chart of Nordson (NDSN)...does it look bullish? Elliott Waves show that pretty much all five waves are in (red circle). Would you be an active buyer or a profit taker at this stage? If you took your profits here and price went to $160; would you remain grateful for your profits or jump back in with FOMO? Discipline is key!
It seems like wave 5 (white) is likely complete and placed. Elliott Waves states that after five waves, there is a requisite correction. The red ABC label shows that a conservative retrace depth and yes, it could go lower than marked. The MACD is a bit oversold and so a B wave bounce is due. Still, red C wave down is on deck.
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Thanx for research :-)
Nordson has a good portfolio of product offerings. Earnings came in overnight with strong numbers but weak forward guidance. A case of buying in anticipation and selling to lock in profits. Likely a correction is due. Cheers!
Hey haejin, can you make an analysis for stratis or syscoin?
Hey @Haejin, I'd love to see your analysis of SunPower (SPWR). On the monthly, it looks like we may have had a wave 1 (with a wave 3 in order). With recent catalysts, especially the California mandate, I'm very interested in the industry. Thanks again for your equity analyses, and thank you in advance if you're able to get around to this request!
thx for hard research, really appriciate
Omaizing good like
Good thsk
Nice call @haejind. I am guessing it is easy to find stocks on the 5th wave using weekly charts. I notice you just talked about taking profits but did not mention shorts or short positions. Is the weekly chart too unpredictable to try to take a short position? Any other reason for not mentioning shorts? Dropped like a stone in aftermarket, good call or are you a market mover?
I think at this point I would definitely take profit and run for it. It's easy to FOMO on these things and be tempted to either hold longer or get back in after taking profit. I learned my lesson, that's what I did last year with most coins, instead of taking profit I HODLed, and look where we are today
Thank you good information
Thank you. I'm learning a lot.I will no longer be greedy and become a wise investor. I look forward to good posting in the future. Be happy always.