NEWL Chart: 5 days down & eventually going to rebo
Post# of 776
Posted On: 07/03/2014 1:59:27 PM
NEWL Chart: 5 days down & eventually going to rebound………..(shorts have to cover, so @ the very least a short cover rally should eventually come)……….Fast Sto & Slow Sto are pegged at extreme oversold levels……..RSI is obviously at oversold levels as well………while looking for a silver lining for the bulls I noticed NEWL gapped lower @ the open on Thursday……..this is what bounce players look for……many reversal patterns begin w/ a gap lower open…….too many patterns to guess from this set up………..another silver lining is the declining volume……...declining volume shows sellers tiring…….another signal bullish reversal players look for……the key is to have patience & wait for a doji or green candle to form or @ least begin to form if you are attempting to play the bounce IMO……..just like nothing goes straight up nothing goes straight down………the bears are obviously in control, but the bulls should get their turn…………remember, NEWL has been halted more than once & there is no assurance it will not be halted again………..$$$
http://stockcharts.com/h-sc/ui?s=NEWL&p=D...9328038698
http://stockcharts.com/h-sc/ui?s=NEWL&p=D...9328038698
(0)
(0)Scroll down for more posts ▼