Friday, June 18, 2010
NWTT - Consolidating For Its Next Move Higher?
Any stock that rallies 366% in one day is going to need to take a breather if it doesn't want to come crashing back from where it came. NWTT, to me, looks like it has consolidated the last few days, dropping off those who don't want to take the next trip and picking up new riders for the next run. The stock closed nicely at the end of the day, even though it was an even day, the momentum should follow through to Monday.
Whether a news event is the next impetus, or simply the buys start to out number the sells, I think NWTT will begin another ascent at the start of next week.