Correction on NI, how deep?

NI is showing some bearish bias today as it fell by 2.7% breaking the newly found support at 2.96 per share. The correction may continue and price may fall near 2.59 where the Kijun Sen currently moving but some supports like 2.75 and 2.63 may also hold. This correction is needed due to the stock being overbought already. Ichimoku elements are still in green, reason for us to believe that there is still more juice to squeeze for NI.

Caveat!

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felix

A computer engineer by profession and loves to develop online systems/websites. A self-taught stock trader who loves to share his knowledge and enjoys learning, expanding knowledge and staying well-informed. Most often he uses candlesticks, Fibonacci Retracement levels, Ichimoku system on his technical analysis but loves to hear some rumors as well.

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