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17 Jul 202004:37 AM

NMDC - Value Wave Investment

The stock has made 2 series of impulse waves and pullbacks, both overlapping so marked as 1-2-1-2. Now a 3rd wave is overdue. Prices are crossing back above the 20/40 day moving averages today so we could get wave 3. If so the channel and 3=1 point toward 107 as the next major resistance level. The declining pattern in wave 2 would breakout above 86.50. The next major swing high from where prices fell in Jan is at 140

nmdc 170720

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