Nestle (NSRGY) Stock Chart Review
As requested through email from a trial member, this next article will be a Nestle (NSRGY) stock chart review and analysis.
Whenever I think of Nestle, I think of their milk chocolate candy bar. A frozen one was even better. But I had to be careful hiding it in the freezer as I had 2 younger siblings growing up that were eager to take the candy bar off my hands...
Baby Ruth, Butterfingers, Nestle Crunches and the standard Milk Chocolate Bars....those are still my favorite Halloween candy bags to purchase, just in case there are any left-overs.
While I could go on about my love affair with candy bars dating back to when I was a kid, its probably best to move on to the actual stock article for Nestle.
This Nestle (NSRGY) stock chart review will take a look at medium-term trends and longer-term trends using weekly and monthly candlestick charts, respectively.
NSRGY - 20 Year Chart
This first chart is a 20 year monthly candlestick chart for Nestle (NSRGY). I always like to know where a stock price has been over the last 20 years. It is amazing how support and resistance areas from years ago still matter today.
What I notice when looking at this chart is a resistance area overhead from the Shooting Star candlestick pattern and support below from 2 bullish candlestick patterns, a Hammer candlestick pattern and a Piercing candlestick pattern. The secondary support area from the Hammer candlestick pattern and the support area Piercing candlestick pattern are almost identical. This is the $66 price level.
And where is NSRGY's share price? In no man's land, right in the middle of the support and resistance area.
The support from the bullish candlestick patterns seem to outweigh the resistance from the bearish Shooting Star candlestick pattern. If you want to read more about any of the candlestick patterns mentioned, please visit….
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I look at some pullback areas to begin building a position in the stock as well as review some of my previous upside price targets for both the shorter and longer-term.
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