this downtrend. I spoke to someone with damn good tech skills and he said:
"Its a churning move, forming a recent low (today), and is not accompanied by increasing volume (23% of average), suggesting that the current move lacks broad participation. Unless the volume picks up, the move could be short lived and the stock will begin to rise again. In addition, the stock is extremely oversold according to the Stochastic indicator (18.00).
This churning should last a few more days though. Look at the last time NXTV was in the 40-50 range. It lasted 7-9 days then we moved up!
What I'm detecting is that there are very few shares for sale, but virtually no buyers - everyone's waiting for the market to flatten out and start upward again, or for some news to kick in and create some buying pressure.
If the market does turn, and goes the right direction for a week or so, I think NXTV will take off back to the 70s.
I'm a very optimistic person but when it come's to stocks you can't get to optimistic. As much as I'd like to see this stock and several others in my portfolio move higher I'll just be happy to see that the end is near for this BEAR session that we are experiencing. I think it's important that everyone realize it's all in attitude. Think Positive and your portfolio will reflect your attitude. Also regarding the number of shares available, I agree with the person mentioning that there were few shares to be traded. When I first purchased this stock (which I still have my original shares) I had trouble getting them becasue they just were not available, this was a good sign. Been adding to my positions every since.