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finally, novamsc has broken the downtrend psychology based on the downtrend line since 2015.
technical indicators comment:
1. moving average : all MA have formed a golden cross whereby all MA 6 , 20 , 50 , 200 are well alligned and rising indicating smart money are inside and bigger bullish trend about to come.
2. MACD : a fresh bullish MACD indicating novamsc strong bullish momentum that has just begun
3. price : new 52 weeks high has been marked at 0.165 and today close at 0.160
4. volume, based on daily volume, clearly a strong accumulating and buying volume especially when it created an ultra spike on monday 10 june . usually an ultra spike volume will result in sell down immediately on the next day , however in the case of novamsc, we can see there is still continuation in buying volume today. This is a rare case, and it shows an obvious accumulation and buying volume in this counter. with multiple and consecutive spike in buying volume, price are most likely to move higher in short term.
hearsay, something is brewing in this counter for a big play.
