Matt I have seen enough charts over the past 5 years produced by so many gurus, chartists, astronomers, analysts, tea leaf readers, etc. to know only 1 thing for sure. On small, volatile stocks they don't work! It is too open to influences that a chart can't account for and the main one is finance. Practical issues and the whim of investors will dictate the SP and the chart will follow, not lead that situation.
Sure, if you keep talking them up [esp just AFTER the run up or down has commenced] there is a probability of coinciding with the chart predictions sooner or later [even a broken clock is right twice a day]but I have never seen a chartist accurately [or even close] chart Newsats future. Larger more stable share perhaps but not a small Company like NWT. I have seen all the great expectations drawn for Companies such as PRR, PNO, OBJ, NGE, etc. and what happened?
So many have tried - so many have failed. If they could predict it and believed in what they saw, would they not now hold many millions and be potentially rich or have seen the fall coming and left? I think Rob111's crystal ball is as accurate on a small stock.
Regardless of that, there is movement and maybe somebody knows something? Alternatively someone is taking a punt on finance coming through as that is the only thing worth punting on now.
A buyer has taken a position with 3 bids of 100k and is probably same person who was accumulating about a month ago.
Bids now outweigh sells by a large margin and that is a good sign.
SP on rise but we have seen that so many times. Where will it go? I am reasonably confident of the ExIm finance and then we will see Newsat move ahead.
Good luck to us all early 2014 and beyond.
NWT Price at posting:
45.0¢ Sentiment: Hold Disclosure: Held
