NGA - Sometimes Stocks Move Fast and Northern Genesis Acquisition Corp #NGA is no Exception
Whether a #stock moves fast or slow, one thing is always true. The forces of #supplyanddemand determine the #price of Northern Genesis Acquisition Corp (NYSE: NGA) and every other stock on the market. The price someone is willing to pay for NGA directly impacts its price, but that is offset by what others are willing to sell it for too. The good news is, we can see where these decisions are being made more aggressively, and we can use that information to our advantage. This is what we have done in the example below. Our data was current at the time of publication, but it is not updated in real time here. If you want real time updates, or data on a different stock, please get one here Unlimited Real Time Reports .
Technical Summary
| Term ? | Near | Mid | Long |
|---|---|---|---|
| Bias | |||
| Strong | |||
| Weak | |||
| Strong | |||
| P1 | |||
| 0 | |||
| 0 | |||
| ERR | |||
| P2 | |||
| 18.56 | |||
| 16.98 | |||
| 0 | |||
| P3 | |||
| 19.83 | |||
| 19.68 | |||
| 0 |
Long Term Trading Plans for NGA
April 30, 2021, 6:30 pm ET
The Technical Summary and Trading Plans for NGA help you determine where to buy, sell, and set risk controls. The data is best used in conjunction with our Market Analysis and Stock Correlation Filters too, because those help us go with the flow of the market as well. Going with the flow is extremely important, so review our Market Analysis with this NGA Report.
NGA - (Long) Support Plan
The technical summary data tells us to buy NGA near , but there is no current upside target from the summary table. In this case we should wait until either an update to the summary table has been made (which usually happens at the beginning of every trading day), or until the position has been stopped. The data does tell us to set a stop loss 0 to protect against excessive loss in case the stock begins to move against the trade. is the first level of support below 18.6, and by rule, any test of support is a buy signal. In this case, if support is being tested, a buy signal would exist.
NGA - (Short) Resistance Plan
NONE .
There are no current resistance levels from the summary table, and therefore there are no Short resistance Plans which tell us to short upon tests of resistance. Resistance levels have broken higher and unless the stock reverses lower and below support levels again short positions look risky.