Nextwave Wireless (fka WAVE)

[Wheeeeee]

0.42 0.43 is daily 50ma support

following is a general statement and not meant as a reply (aka im not lecturing hehe)

if that goes weekly support is at 0.38.
Doesnt look all that pretty indeed, but the upmoves were just sooo damn aggressive. This will have to bleed out its weak hands and consolidate.

OBV is turning into distribution which is kinda sucky.

btw 0.44 has been solid support in the past. So with the 50 ma moving up we might consolidate in the 0.41 - 0.44 range.

Todays down move was on VERY LOW volume, so it doesnt mean much.
Could be the float drying up.

Stochastics are moving into oversold land and we are nearly at a 50% retrace or so, just above.

Actually a nice time to add on deep dips.

Downmove resulted from attempting and failing to break 0.50 resistance a number of times. And with the high volatility we had before it means that alot of the shares held are in the hands of chasers. Those will absolutely have to bleed out first otherwise we wont move.