Well seen the pattern of trade like this 100's of times before on different stocks... Quick fall followed by a buying.. .maybe fat fingers maybe not... more likely a fall engineered by professionals to suck up weak holders below in an obvious stop loss area... prior to news.
Personally not expecting any miracles today simply a confidence building day in the lead up to the regular update on Thursday ...
Confidence building to me is a day where the trading action is confined to 7.2 to 8.1 range and I don't care if there are dumps to the buy or sell queue in this range.
I will sit up and take notice at 7.0 - 7.2 (or below) and look to top up/take bigger positions ... as this is cheap given the upcoming news flow over the next 6-7 weeks or so.
I just reckon we will mark time today and perhaps on Wed we will see some movement in expectation of the Announcement on Thursday.
I also think the Stock is making the transition from a micro cap in to the Mid cap stock and changing its personality to suit (every stock has its own personality which is the sum psyche of its buyers and sellrs )...
Quick selloffs and buy up's is more common in large Mcap stocks albeit with smaller price moves ... In fact if you look at AWE there have been many quick selloffs followed up by buy up rallies over the last week or two...
All is IMHO DYOR
NWE Price at posting:
7.5¢ Sentiment: Hold Disclosure: Held