nftrh plus

NFTRH+; A Mining & Materials Company Back to the SMA 50

I will keep this one informal, simply noting that SQM has returned to its 50 day moving average, which has defined the strong up trend.  I had owned SQM previously, but sold it on the January surge to a new high.

sqm

The weekly shows SQM robo-trending upward, either supported by the EMA 10 or EMA 20.  Right now it is at the EMA 10.  A miserly would-be buyer could wait to see if the EMA 20 is hit or an eager buyer could try it here at the EMA 10, using a break of the EMA 20 (below 30/share) as a stop loss.

sqm

Other related stocks (RIO, VMC, etc. for example) are similar in that they’ve taken pullbacks.  But SQM is a good representative example of a pullback within an uptrend, which is the definition of a buying opportunity on a still-bullish stock.

A reminder that chart based NFTRH+ updates are technical trade setup ideas, which may not be revisited as the buy, sell, stop parameters are already noted. They are meant as a starting point for further research if interested. I will not personally buy every item highlighted and will sometimes sell – without prior notice (because this takes time and resource away from NFTRH’s main functions) – any item that I do buy, below target, which is something I often do as a trader. Also please be aware that I am not a fundamental stock analyst. Due diligence is your responsibility.