NI may continue to correct

After reaching the 127.2% Fibonacci Retracement level last time, NI corrects and is now at 3.0 per share. The Kijun Sen line at 2.90 may try to pull the price more as bearish sentiment is still in the air. But this should be considered a healthy correction since Ichimoku elements are still in a bullish setup. A good chance of entering will be near the Kijun Sen line which is also near the 38.2% Fibonacci Retracement level. It will still take few days for this line to bend upward so we will just wait. Once it hit there, we will look for a clue from our candlestick if a bounce is imminent, if not, the next support will be at 2.77 per share.

RSI or Relative Strength Index is going down and is now at 55. Still pointing down.


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