NWWV has rebounded quite nicely off the oversold low the stock made last week. The market seemed to warm up to my idea that the stock was absurdly cheap and the ’04 pattern could repeat in ’05.
If history repeats itself, NWWV should head to about the $1.50 level between here and the end of October. So, even if you missed the low, there is still plenty of upside. If the stock can regain the $1.50 level, there is still a 50% return on invested capital out there in the next three months.
If you’re looking for a good entry level, and don’t want to jump in after Monday’s rebound, here are some levels to look at.
The 38.2% retracement level takes us to $.94, and the 61.8% retracement takes us to about $.88. Therefore, .94 would be good, and .88 would be outstanding.
The stock might not come back to those levels as June quarterly numbers are due out soon, and if they are good the rebound phase might continue. We’ll see.
Your questions and comments are welcome.
It’s dropped down a bit now, asking $0.90, would this be a good time to get in?
Editor: I published my thoughts on that very issue today. I think now is a great time, especially if the stock does a repeat of last year’s Q4 performance. $.78 stop loss.
waht happened to auction liquidater and if they dropped the service how do you think it will effect the bottom line
Editor: It will improve the bottom line. It was looking as if Auction Liquidator would take 12 to 18 months to turn profitable. They want to start generating profits now, so they shut it down.