Technical outlook – In today’s source of information, there appears to be so much knowledge out there, and many opportunities that may get obstructed, or just too complicated!
When it comes to investing, the first thing that we do is to evaluate the broader term pattern, and then bring it into the shorter period. The best way to assess plausible theories is to test them (right?).
With technical analysis, I believe in keeping things simple, following the approach about the price action, which indicators you use, not deviate, and stick to them.
Viewing the potential strength to the daily pattern of NRW Holdings Limited (NWH), the two technical indicators, the Relative Strength Index (RSI) and the Moving Average Convergence Divergence (MACD) are slowly forming to a bullish bias, along with the fact that this share has been slowly forming the bullish foundations from $2.20.
It is envisaged that this share price will continue to exhibit bullish behaviour and encounter further demand to strengthen prices to rise to a foreseeable target of $3.60 or extending to $3.80.
Company Overview – NRW Holdings Limited (NWH) is an Australian company providing diversified services to Australia’s resource and infrastructure sectors through its three business divisions, being NRW Civil and Mining, Action Drill and Blast and AES Equipment Solutions. NWH conducts its operations in WA, NT, QLD and Guinea, West Africa.