Zeev's Turnips Patch-No Politics (ZEEV)

[madrose1]

15:12 EDT NutriSystem-NTRI: Technical Alert

There is unconfirmed chatter about a possible positive mention for the company in the upcoming Barron's. The stock has been smacked hard following earnings this week (down from $67.80 on the 24th to a low of $48.20 this morning) on heavy volume. It's a Friday, there is 6.13 days to cover and it would not be atypical to have rumors swirling at end of week for some form of squeeze attempt albeit on light volume. That being said the stock did bounce off the 200-day moving average area ($47.64), the lower limit of the price channel is at $48.54, so a snap-back here may have been textbook. If those levels break it could bring on more downside. Here are some levels to monitor. Resistance on further rally attempts is at $51.50, $52.75, $54.55. Support is at $48.54, $47.64, $46, $45.25