🔍 Current Technical Setup
Price: $2.92 AUD
Trend: Recent bullish reversal from lows near $2.00
Volume: Increasing volume on the uptrend — a bullish sign of accumulation.
Moving Averages:
Short-Term EMA (10): $2.82 — price is above = bullish.
EMA (50): $2.61 — price is also above = uptrend intact.
SMA (200): $3.25 — price below = long-term resistance remains.
🧠 Key Chart Patterns & Levels
Structure: Cup & Handle / Inverted Head and Shoulders-like bottom formation from the April–June base.
Breakout Zone: Just broke through minor resistance around $2.90 with strong volume.
Gap Fill Zone: Between $3.10–$3.30 (highlighted grey box). This is a key target area where price previously sold off — likely to act as resistance.
Major Resistance: The 200-day SMA at $3.25 aligns with the upper edge of the gap zone = high confluence resistance.
📈 Bullish Scenario (High Probability ~60–70%)
Price continues to rally on strong volume to test the gap resistance zone.
Target: $3.10 to $3.30 in the short term (5–15% upside).
A daily close above $3.30 would confirm a structural breakout toward previous highs near $3.80–$4.00 (medium-term target).
📉 Bearish Scenario (~30–40% Probability)
Price rejects off $2.90–$3.00 and retests support at the 50 EMA (~$2.60).
If it loses the $2.50 level again, the structure weakens and re-tests lows near $2.10–$2.20 become possible.
🎯 Trading Strategy & Risk
Entry zone (momentum): $2.85–$2.95 (already underway).
Short-term Target: $3.10–$3.30
Medium-term Target: $3.80
Stop loss: Below $2.70 (just under the 50 EMA and recent swing low).
Risk:Reward: About 1:2 or better toward the gap fill.
🧠 Summary
NRW (NWH) is showing a strong bullish reversal from a major base with increasing volume. The short-term structure supports a gap fill to $3.10–$3.30, with a medium-term potential back to $3.80 if it breaks the 200 SMA cleanly. However, resistance is expected near that region and caution is warranted around $3.25.
Would you like a trade plan or probability table next?
Price: $2.92 AUD
Trend: Recent bullish reversal from lows near $2.00
Volume: Increasing volume on the uptrend — a bullish sign of accumulation.
Moving Averages:
Short-Term EMA (10): $2.82 — price is above = bullish.
EMA (50): $2.61 — price is also above = uptrend intact.
SMA (200): $3.25 — price below = long-term resistance remains.
🧠 Key Chart Patterns & Levels
Structure: Cup & Handle / Inverted Head and Shoulders-like bottom formation from the April–June base.
Breakout Zone: Just broke through minor resistance around $2.90 with strong volume.
Gap Fill Zone: Between $3.10–$3.30 (highlighted grey box). This is a key target area where price previously sold off — likely to act as resistance.
Major Resistance: The 200-day SMA at $3.25 aligns with the upper edge of the gap zone = high confluence resistance.
📈 Bullish Scenario (High Probability ~60–70%)
Price continues to rally on strong volume to test the gap resistance zone.
Target: $3.10 to $3.30 in the short term (5–15% upside).
A daily close above $3.30 would confirm a structural breakout toward previous highs near $3.80–$4.00 (medium-term target).
📉 Bearish Scenario (~30–40% Probability)
Price rejects off $2.90–$3.00 and retests support at the 50 EMA (~$2.60).
If it loses the $2.50 level again, the structure weakens and re-tests lows near $2.10–$2.20 become possible.
🎯 Trading Strategy & Risk
Entry zone (momentum): $2.85–$2.95 (already underway).
Short-term Target: $3.10–$3.30
Medium-term Target: $3.80
Stop loss: Below $2.70 (just under the 50 EMA and recent swing low).
Risk:Reward: About 1:2 or better toward the gap fill.
🧠 Summary
NRW (NWH) is showing a strong bullish reversal from a major base with increasing volume. The short-term structure supports a gap fill to $3.10–$3.30, with a medium-term potential back to $3.80 if it breaks the 200 SMA cleanly. However, resistance is expected near that region and caution is warranted around $3.25.
Would you like a trade plan or probability table next?
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.