nxtm has a very strong pattern, has traded above support now for over a year. Now the pattern is looking like a triple top, which is not a good predictor of direction yet it does imply a large move is imminent. Similar to a constricted bollinger band. Although the current bollinger bands are wide to accomodate the recent volatility. I am thinking this is a triple top reversal which to be completed would have to break down below support and nxtm has been very good about bouncing off resistance. We'll see, small bet now that insiders will kill this rally with heavy selling just above 14. I'll cover if it closes above 14.50 and look to short again after the small summer rally-hopefully at higher prices. I would much rather short this at $20 but a low risk set up here.
I'm all for using technical analysis for stock trading, and I'm not sure what your time frame is so don't take this as an attack, but don't you think this is a dangerous short with a CMS decision about bundle payments due anytime? If volume got heavy on down days then maybe I could see your point but right now it seems like a coin flip to me. Seems like a much safer trade after CMS makes its decision.