Well. There's no technical support at .06.
Present momentum is:
.863-.623=.240
.726-.240=.486
So, while .6 is a bit of a psychological support intraday, the stock can easily make the next stop to .5, which is an actual pivot point support line. NEWL needs to bounce above .726 and consolidate to negate the immediate-term downdraft. It needs to confirm a positive MACD signal cross on at least the 5min chart, and better yet the 15min chart. The problem is shorts don't cover between support lines unless the MM manipulate the stock upward to catch them.
The only real play long has been buying late day capitulation for bounces off the open. Otherwise, it is much easier to just be sidelines or ride it short, seeing as it only closes green two days/month.
(A) Have very reasonable expectations; (B) Educate yourself and perform due diligence; (C) Don't enter without a strategic plan and target, for both best and worst case scenarios; and (D) Lead inward/outward and never follow.
