Nortel Networks

briskg

Junior member
10 0
Can you help please?

I want to sell my Nortel Network shares as my analysis points towards a down trend to around $3.98 dollars can anyone advise if this is a good move. Will they go down or up?

Thanks

Kal. :LOL:
 

bgold

Established member
532 5
Looking at the LT chart, it seems to me that NT has run into very severe resistance around 4.76 (R1). This the southern doji of Sep 01. If it can break-out, upside could considerable R2 at 6 and R3 at 9.
As Johnny indicates you basically have made up your mind. Perhaps you should follow your gut.


PS. I have only looked at candles and not faintest idea what's going on with NT, but
PS2. Downside on this stock could be much more than your listed 3.94.
PS3 I would argue that this is perhaps a good risk/reward smallish short trade, thanks for pointing out. Sell at 4.54,Targetting below S1 4.06, S2 3.75 or below S3 3.55 risking a close above the 9 September high of 4.73.
Looks like a good trade?
 

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bgold

Established member
532 5
briskg, how did you get on with NT? The risk/reward of a short trade has even further improved! NT is lagging the market on the way up. Surely a sign of weakness.
 

briskg

Junior member
10 0
Nortel again

I'm selling out today. Small tidy profit 4 me.

Thanks for all the input.

Kal :D
 
 
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