Nanosonics Limited is a medical technology company engaged in the manufacturing and distribution of the trophon electron paramagnetic resonance (EPR) ultrasound probe disinfector and its associated consumables and accessories. It is also engaged in the research, development and commercialization of infection control and decontamination products and related technologies.
NAN Nanosonics is showing early signs of a trend change with a Spike low ( SL ) in place followed by the Spike high ( SH ) and a second Spike Low and has entered a trading zone with the break of the Spike high, in this case within 2 trading days. The historical support level at $2.98 was not reached in the run down from the $3.86 highs with buyers coming in earlier to provide price support.
The daily MACD average lines are below the “zero” level and have begun to cross into a swing buy signal. A stop loss is set at $3.04.
Following last week’s hammer bar with the “high close” compared to the overall range, was the first sign of buyer support.
Within this week’s chart of NAN the Pivot point is in the early stages of completing, this week’s higher low has so-far confirmed the Spike low (SL) swing point. The same type of price pattern occurred during the $3.26 low in mid-April.Overall the Primary trend for NAN is up with the current retracement nearing completion.
