NF Daily Chart !!!

Below is the Daily chart of NF (Close at 7865). Some objective points to consider;

This is the first time in the intermediate uptrend its made a LH.

Price is taken support at the 200 EMA roughly at 7790.

The 20 EMA is at 7820, so this range 7820-7790 is support of sorts.

Monday's Candle Hi (7912) and Lo (7775) are two levels to watch out for on Closing basis for any significant direction NF will take.

The previous HL at 7700 is a Pivot of sorts...which might trigger a lot bearishness considering the fact that if NF trades below it; not only it breaks an important Pivot but also trades below its 50 EMA!!!

Its wiser to trade your LEVELS and not your WISHFUL THINKING !

Wishful thinking for a BEAR would be that once it break the HL pivot it might as well go and close that GAP (you can see underneath) too....!!!

So signing of this post by saying "If wishes were horses.......!"

Cheers !!!