It was inevitable that NEWL would go to .09 and test it again. No big surprise. I am guessing that NEWL is just about satisfied with this latest shakeout. A close between .09 and .10 looks in the cards to me. Then a higher move on momentum next week. (how high next week a bit hard to figure)
Ya think!!??! Of course it is oversold! Knee jerk reaction here. A lot to played out yet
mjopsia, I have no position in NEWL now. You may be right. But the massive hit the NEWL has had the last 2 weeks may put into question its status on the NASDAQ. You can't rule delisting out. It will be interesting to see what happens. NEWL mgt has to be reeling at the turn of events after the reverse split.
You must be really naive if you think the NASDAQ will open this soon. They are on the verge of being delisted if they don't come up with ample evidence on why they shouldn't be. Why do you think NASDAQ is asking for more info.
"Trading will remain halted until Newlead Holdings Ltd. has fully satisfied NASDAQ's request for additional information."
Fully satisfied is the warning phrase here.
I think it will test 6.8. That is initial level it dropped to last night.
golong, I am looking at last 1 hour of trading after the plunge, not the entire day. I am looking at intra day trends.
Same accumulation now at .48 level.
I like the way this is acting now. Short uptick, levels out them and another small uptick. Not much selling on small upticks. which I Iike to see.
Is the float as listed on yahoo finance 2.8M? If that is true, then no one is dumping and this is purely just day traders manipulating the market.
Can someone verify the float? thx in advance
Volume way down from previous days. Good sign the sellers are exhausted and moving on. It should have a nice move in the last toward .70
Whenever this gaps up, sellers come in. This morning a gap down, on lighter volume, looks like a signal that a reversal is on order. This is an exhausted sellers move.
.58 didn't hold. So is .55 bottom, too early to tell. You can't predict the bottom, since this is at new depths. When big players decide it is time to buy, this could move quickly. But it is difficult to time it.
It touched .58 on wednesday, and it sure looks like it wants to test again. It seems like it wants to go to .50.
Just an observer today, neither long nor short.
Current hangover is the 6 months to stay compliant with NYSE. This has fallen another 50% since this last note. Definite value here, especially when considering pre buyout price was over $2