I've been watching NIHD since March and called the move lower when it was trading north of 1.15 (I was bearish and right) but I think we are the tail-end of the bottoming process... Why?
1) Volume has dried up in the recent sell-off
2) Today might be the successful test of the May-7th low
3) The stock has done everything right technically, moved up the previous low of 0.83 ish (Now resistance) level and failed on May 12th
4) I think today was the retest of low with lower volume than 4,455,400 shares (May 7th) and with some positive news if it can take out the previous closing lows on higher volume and get over $1 then watch out for the gap from Feb-28th.
81% (UBS with 14 M shares yet to report) as of Mar-31st. Nothing much would have changed since then as the volume has dried up. Black rock doubled down on the decline...
Future PPS & Time frames:
First Resistance: 0.66-0.75 range (1-3 weeks to break it)
Second Resitance: 0.94- $1 range (1-2 weeks to break it)
If it can take out the 50 dma then close above the $1.25-$1.3 level then it will quickly close the gap :)
My analysis does not take in to account any surprise catalysts (Positive or Negative) and if it happens then will have to reevaluate the PPS targets and time frames.
I've a nice sizable position @ 0.6 average
Normally, I play all stock via options, but when the stock PPS is itself priced like an option... Well you know :)
NIHD is a very precarious position technically... A Close below 0.57 would confirm the short term double top and to complete the Big-M pattern... it would go all the way down to retest the lows from mid 40's. It needs to bounce now and eventually make a new high sooner rather than later.... Today is Russell rebalancing and expect some high trades AH (My guess is potential dump by some owning for the index mimicking purpose)
wow.. some people really take their tech analisseriously..
so could you share with us, ooohhh so wise one.. why would one want to buy here if the russell is gonna heavy sell later ?
why not wait and pick when it goes in the 0.40s or even 0.30s?
there are two possibilities imo
1 - you don't know what youare talking about but trying to imprsess your gf
2 - you are trying to convince people to sell
3 - you really know what you are talking about and we shall see low 0.40s or lower today
we shall see which witch is which
Looks like it cannot take out the 50 DMA... Not enough volume on the upside. If i were long then I would SELL if it breaks 0.69 (Today's low...) Will get a much better entry point lower. But, a lot of trading to happen between now and the close... Will have to wait and see.
Closed on the lows... but the volume was not big enough. Again the stock is range bound for now 0.67-0.77. It can jump on some covenant deal news or gradually fade back to the 50's and 40's.
The longer this goes on without any news the more the people will bail... basically, just have to wait and see from the sidelines.
Why did it hold 0.6?
The reason being it was the short-term breakout level from June 8th. It is now testing that breakout.
But, the bad news is that is closed below 5, 10, 13. 20 EMA on higher than average volume.
Tomorrow can be pivotal.... NIHD has to bounce or at least stay flat or it is going back to lower 40's. Some positive news can def. help the stock...
If the longs just knew how to take profits when TA is begging you to do so... Just like I said last week... No news = more bailing by longs
If the stock breaks 0.58-0.6 then the retest of 0.43 is almost def. in the cards. Last chance for NIHD bounce... or good news to come out.
It is currently failed twice to move back in to the channel... If it breaks 0.66 then Poised to drop at least to the 20 DMA around 0.58, if broken then will fall back to the all time lows for another test.
NIHD is holding it's gains very well... Almost looks like consolidation of recent gains, it did break the uptrend that started on June-5th and closed just below it today. The positive side of it is that it was on lower volume. Also, the broader market looks toppy and prime for correction. Can NIHD buck the trend or be the counter trend? If it break 0.65-0.66 then it will drop to 0.55-0.6 very quickly unless the 10/20 MA/EMA hold...
NIHD did hold it's gains in to the close (Broader market strength might have helped) which is good sign if we see a follow through tomorrow. The only issue is today's volume of 6.44 M shares is less than 7.4 M from May-30th when it broke below 0.54 level.
The gap at open would have to be closed. So, either it trades down in to the close today or will move down Monday. Again, I attribute this rally to some short covering to lock their profits (Considering there was no real news)
But, if it can get back to 0.54-0.55 and bounce back strongly then a short term bottom might have been put. Again, I think the broader market is way over bought and can come down hard. it doesn't mean that NIHD can't trade in it's own world.
Like I said... Will be still watching NIHD and it broke 055-0.53 support on bigger volume. Selling is not done... It will push in to mid 40's to even mid 30's.
First target is 0.45
Second target 0.39
Third target 0.35
If you think this sis going BK then stay way from it. I also think the broader market is going to roll over big time and that doesn't bode well for NIHD either.
Has difficulty breaking 0.55. If it fails here then heading back lower and this would be a relief rally. If it closes over 0.6 and shows some follow though then we might see 0.8. But the volume is low compared to May-21st and too much over head supply @ 0.55
Why don'y you say what you mean, stock going to 6 cents, thats what the shorts want, they are in control, a billion dollar company at 6 cents, is that a buying opportunity???????????