Including today the shareprice has declined 6 of the last 7 days, whereas the buyback stopped 2 days ago, so I dont think it is conclusive that the bb is holding the shareprice up as clearly it was falling when it was on. For sure bb helps put upwards pressure on price but its not sufficient on its own, real buyers are needed.
market has been weak for last 2 weeks or so, buyers stepping away from many stocks and distribution taking place. no doubt though that neu's price action is weak and looks like we'll finish at or near low of the year. I actually think this market pullback locally and in the US is potentially a good thing to help prepare for the next leg up, a flush was needed to help reset. Hopefully neu will be able to ride the upswing if they release some positive updates in the new year.
I dont think its a fait accompli that the shareprice falls through january due to no bb, wait and see, too much gloom on these threads, understandable though and I certainly battle with it. I keep telling myself that neu will turn at some point and it quite often turns when pain is at max threshold.
NEU Price at posting:
$12.19 Sentiment: Buy Disclosure: Held
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