Nextwave Wireless (fka WAVE)

[revlis]

While You Were Sleeping - Looks at UNG, WAVE, and PLUG
Small cap stocks United States Natural Gas Fund, Plug Power, and Nextwave Wireless are sliced and diced.

Take Nextwave Wireless Inc. (NASDAQ:WAVE) for instance. The recent slide to $0.283 may seem innocent enough.... most stocks are struggling, so why wouldn't this small cap stock struggle as well? Take a closer look at the chart though. Specifically, take a look at the support line at $0.30 (blue)... which had held up a few times since the middle of last year, but now, failed to. But wait - it gets worse.

Now take a look at the last three major peaks from Nextwave Wireless shares, and where they occur in relation to the support at $0.30. That's right, WAVE just slipped into a bearish head-and-shoulders pattern... a bit of a kiss of death. I think a move to late 2008's lows around $0.07 is a distinct possibility, with now other real floor in sight.

http://www.smallcapnetwork.com/While-You-Were-Sleeping-Looks-at-UNG-WAVE-and-PLUG/s/article/view/p/mid/2/id/268/