Thursday, December 07, 2006

NRMX Analysis for 12.07.2006

Test of prior high at $27.43. Exuberant buying last month, with buyers taking price from $15.56 to $26.51. Expect some profit taking with test of prior high.

Indecision between buyers and sellers.

Exuberant buying at the top as evidenced with gap up after a small doji/spinning top type of candle pattern. Series of dojis showing major indecision. Today's price action indicated that buyers started taking price higher, but were met with heavy selling. Look for follow through to the downside tomorrow.

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