What does Nine Entertainment Co. Holdings Ltd do?
Nine Entertainment Co. Holdings Ltd [ASX:NEC], is an Australian media entertainment group, which delivers content through free-to-air TV broadcasting and online news and entertainment. Its assets also include Ticketek, and the Allphones Arena.
That’s interesting, but what is the chart telling you?
What is the chart telling you?
I personally find it helpful to bring up a chart. Here’s the daily chart of NEC:
The big gap down on 9 June that you can see on the chart follows a news announcement to the market of soft conditions in the advertising market and a downgrade in its full-year earnings. We note now how it reacts to that news. It broke further support at $1.55 suggesting there may be further soft earnings to come for NEC. Let’s wait and see.
What now for NEC shares?
It’s threatening to break further levels of support at $1.48; this one is perhaps best left for the bargain hunters.
You can see, in mid-May this stock found a level of support, which it broke on the first of June. You had to be applying some risk management to that. Somehow the market just knows.
I don’t want to convey that I am some sort of gun trader, far from it. What I can say is; I apply tight risk management to what I do, and honestly, I sleep like a baby and let the market do its thing.
The market can move very quickly and you just have to get proactive in your risk management. The stories one hears about people losing just about everything in the market breaks my heart. It really does affect lives and families. And it is just so, so, unnecessary.
If you are just getting started in the market, firstly get educated. Start small and apply tight risk management. This will allow you the time and money to learn how the market actually works. To get your education started go here.
Research Analyst, Cycles, Trends and Forecasts