FCC, I want to first say that I'm aware of the rumblings regarding Tim. For the record, Tim did start this thread and it's his policy to daytrade stocks for the most part. There are no ill feelings here, OK.
NEWZ has broken the downtrend on volume of over 4 X ADV. The candlestick casting a shadow on yesterday's move is not piercing, which would indicate a bearish signal. I misposted earlier re the 200 DMA, it's the 100 DMA. 200 DMA = 8.77 support. Current stochastics were over 80%, which indicates profit-taking. IMHO, it was exaggerated by short-selling, and possibly margin calls from "weak hands".
My interpretation of the indicators is that NEWZ has been under accumulation since August, which is confirmed by the insider buying. During the earnings conference call, management mentioned that there would be more announcements within the next 90 days. Whenever I come across anything that I believe to be relevant to NEWZ, it's business, or alliance partnerships, it's posted to this board.
I hope this answers both your, and anyone else's questions. |
