Hello From An Old Friend....
Some of you might remember me for when I was posting annotated charts back in the Summer and Fall of 2006 before I sold my shares at just south of .40 cents and left the board. That's all water under the bridge, as they say.
I am now re-examining NEOM for all the Fundamental reasons that have been stated on this board (although I am a stout realist when it comes to ANY penny stock) but also for what I am seeing on the 3-Year Weekly Chart.
For the 1st time on the Weekly Chart we have a "Higher Low" that formed in Sept of this year. In other words, the Sept Low did not reach the prior Jan/Feb low of this year. What is still missing, however, is the "Higher High" which would have to exceed .045 cents as the March '09 High. Should NEOM close above .045 cents on a WEEKLY basis (on volume) without 1st breaching the Jan/Feb low we would have a significant Trend Change that would be a lot more than just smoke and mirrors. Furthermore, up volume on the weekly chart has been much stronger than down volume but that in itself is not enough to put chips on the table, IMO. I always need about 4 or 5 Technical reasons to all come together at once before I will take a longer look at a stock.
Note: I cannot post my annotated charts here as I dropped my stockcharts paid membership but you can go to stockcharts.com and just punch in NEOM and then hit the weekly chart to see what I am suggesting.
Now, if significant partnership/revenue stream news comes out first the chart will likely blow-up northward and the prior weeks/months/years might look like an anthill.
I think NEOM could settle back down to 0.01 cent (technical reason) and if that happens I might take my 1st position since selling in '06.
I do want to say that there is a lot of very basic chart information shared on this board that is, frankly, a bit to simplistic and often not relevant. I don’t mean any disrespect when I say that, but I have spent years and years reading charts. That's all I will say on that. I will say, however, that the DD some of you guys do from a fundamental standpoint is Superb. Much better than me as I don't have the time or interest that some of you have.
There is a lot more I would like to say, but for now I will just say hello again, and good luck!
Anyway, I am patiently watching NEOM for an entry point.
Happy Thanksgiving!
Chartist1
