I believe a head and shoulders pattern is forming for NSR. The top of the head is the peak on 1/3/2013. The neckline will be around $37. This means this goes back to around $30. It will be a big time BUY at $30.
Have fun shorting to $30. I will not short, but I will BUY at $30. This will take a few months.
Please state the time frame that you see this pattern developing. If the head is the peak of 1/3/2013, then you would be guessing on whether a right shoulder will be formed. I see a different bullish pattern developing. A reverse head and shoulder with the peaks already in place. The neck is inclined from the highs of 9/10/12, 10/5/12 and 12/18/12. The shoulder, head, and shoulder at the lows of 9/26/12, 10/31/12 and 12/27/12. The breakout to the upside would currently stand at new high of about 44.60.
A long term chart since its IPO of 2005 shows that overhead resistance in the 36-38 range was taken out in 9/2012, and retested in Nov. and Dec.
I see 36-38 as support on a long term basis, with very little current overhead resistance. Being in the area of all time highs, with the current momentum, I wouldn't short this stock on a technical basis.
I indictaed that I would not short the stock at this time.
I am an aggressive technical analyst. I attempt to predict what will happen before the old technical patterns actually form. My opinion is that why would I use technical analysis when most of the time most of the move or at least half of the move has already happened with technical analysis before an old school technical analyst would say "BUY".
I look for "half patterns". My half patterns are formed usually at the bottom or top of a stock pattern. While this is more risky, it tends to pay off more.
In regards to NSR, I believe that NSR may have "topped" on 1/3/2013. Most technical analysts would want to see the pattern form before they make a call. I'm calling this now, to let people know to get out now. In other words, I am saying that NSR is a sell. But I typically do not short stocks, so I am also telling people when they can get back into NSR. I believe this is the start of a head and shoulders move that will take 2 to 4 months.
In 2 to 4 months when NSR gets to approximately $30, I would be a buyer of NSR.