Quote:
Originally Posted by kwanzor
how bout NEXM ? anyone good @ chart reading give some insight on it?  |
I'll take a stab at it.
NEXM has a messy ass chart. It's a penny stock and it looks like it gets its share of pumping. Biopharm companies are always fun to short. Especially if you see a spike. Playground for traders but a footshot for investors.
Looks like they've been releasing some fluffy news about their medicine without some results to show. A quick glance at the financials shows that they aren't exactly profitable.
The company had ahuge spike back in the beginning of this year, doubling it's share price from $0.40 to $0.80. Looks like the price couldn't break resistance of $0.75 and now it's falling. I'd look into shorting and put a stoploss at $0.75 with a take profit of maybe $0.40 to $0.30.
Mods, if I'm breaking the rules here, delete this post. Or edit.
Anyways, anyone looking at C? It retraced to a low of $3.15 but I jumped in way before it. In the green now though. Looks like it's going up up up! Hopefully it'll break the $5 and go to $10 or something.
