Wednesday, April 28, 2010
NNVC updated chart
The NNVC Daily Trend Model reversed from Long to Short on April 19th, at $2.01. Today, NNVC is 15% lower and is flirting with its 50 day moving average. You can see how this level has provided price support in the past.
As I have written may times, I don't actively trade NNVC, but that philosophy cuts both ways and anyone holding from the April 15th high of $2.57 is getting clobbered. But remember it was only about a year ago when NNVC was trading under $0.50 and I was banging the table to get into it at a bargain price. Thus with the stock up over 200% since then, one could look at the drop to the 50 day moving average as normal and maybe even another buying opportunity.