Replies to post #2506 on NewMarket Technology (fka NWMT)

[eagleeye]

Weekly chart DOES look good. Great viewpoint, Sco! I like weekly charts too when you are looking for a turn during a long decline. Otherwise, you miss the turn and get in much later.

[augie]

TheChamber, thank you so much for sharing the charts. I guess I would assume you are the chart person that SCOV needs to get in touch with. I myself is not a chart person. Can you explain to the board base on your chart what NMKT's future look like? Does it have a chance to run up or will it slowly go back down. Any insights, comments is greatly appreciated.
Good luck to you and peace on earth.

Augie

[thechamber]

NMKT will overhang shown up to .46 (the 200 Day Moving Average) helps me see where the resistance is. Those bars on the left axis in the chart below show the volume at certain price levels. NMKT needs to get though the high volume bars where investors bought in as they sometimes will say--I am getting out when I break even!!

But once you get through .46, that usually means those investors have either sold, or changed their minds on selling and want to hold.

Traders that do not care what NMKT does or is often just buy on 200 DMA breakouts. Many start watching or buying when a stock gets through the 50 DMA (.39 for NMKT).

All in all, NMKT looks good here. Now, where it can go is anyone's guess. But .50 in the near term is not ridiculous, IMO