$NEWT is one of the stocks we monitor in our income stock watchlist. I like how it's setting up for a buy here, normally it falls after going ex-dividend, since investors leg into it ahead of the dividend being paid, and exit after receiving it. This is a reliable pattern in this stock.
Technicals show price met a downtrend target slightly ahead of time, and as ...
NEWT traded in a range of 2 points
resistance at 18 and support at 16
after a nice breakout price came back today to retest 18 area
a long buyer tail on todays candkestick
not quite a hammer but looks bullish
NEWT has been in a nice 3 yr. uptrend and has been forming a wedge for the last 2 months, I expect the uptrend to continue after the wedge breaks past 3.00.
Profit Target - 3.20
Stop Loss - 2.35