Bet on the Pivot Point Short-Term Upside
Although many people fear to buy in a down trend stock, but I still think NETE is good chance bet here. With following reasons:
1. Even though it is in a down trend channel, we see that it broke the top trend line 3 times(May 17,18,25) while only 1 time (May 31) it touch the down trend and immediately bounce back.
2. We see there were a strong support 1.85-2.00 range early this year.
3. There is good chance for here to form a pivot point.
Thus, I would put a Long bet here for short-term (5-days) 10-20% rebound.
1. Even though it is in a down trend channel, we see that it broke the top trend line 3 times(May 17,18,25) while only 1 time (May 31) it touch the down trend and immediately bounce back.
2. We see there were a strong support 1.85-2.00 range early this year.
3. There is good chance for here to form a pivot point.
Thus, I would put a Long bet here for short-term (5-days) 10-20% rebound.
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