We've past the 50, 100, day averages and the 200 EMA. If we get above the 200 MA do we shoot up from there? I seem to remember someone saying if we get above I think it was 24.35 or so the next critical level was 25.00, then we could go up above 26-27. It that right?
The $25 area has plenty of overhead resistance, from early February thru the month of March. Each time NUAN approaches this area, those folks who bought in the $25 thru $27 area going to want to sell, just to make themselves whole again. They "lost" money and are looking elsewhere for growth. They have had their time "in the barrel"!
They, for the most part, just want to get out. NUAN did NOT exceed their expectations and they want to take their money out and move on to, hopefully, greener pastures.
As they "liquidate" their holdings, a "consolidation" begins taking place. There is more selling than buying and holding at this point. This slows down---postpone---the UPtick momentum.
Postpones it, but does not negate it, at least in my view. It will take time to muddle through it, but NUAN still has a lot of promise, I feel.