NEGG here, 3-day chart showing tweezer volume, look to accumulate in and around $1.00. Three potential targets labeled.
Interesting find that NEGG is being shorted in almost perfect cycles since 2021. Could be a fun short squeeze play end of December or into early January 2023.
GFAI I have watched this stock drop over the last year and was wondering when it would bounce. Jan 3rd 2023 it broke over the 200 EMA that it dipped below back in Sept of last year. But honestly it never really sustained any real time above the 200ema. So this movement is a change in character compared to its movements over the last year. Volume is up 6x more...
NEGG I have to say this was a surprise finding this at this price. I always see my dad who is old school radio shack kind of PC guy, on this app and geeking out over their sales and products. So to see it this low grabbed my attention. Some things I saw that were interesting is the Volume is 7x over its daily avg. The float is amazingly low at 12.21 mil. So...
In relation to my other idea. This shows there could be some upward momentum on NEGG in the coming weeks before another large chunk of short sale volume enters the market. I have entered into a small position trade here. Will add more if it looks like this idea plays out.
NEGG is currently at $1.65 or a 600 mil market cap. To be fair, with the amount of competition out there selling computer parts and NewEgg's fall from grace with people like Steve from Gaming Nexus calling them out on cheap-o practices when it comes to their customer return policies about items that were already damaged before the customer accepted, it's a not...
NEGG is looking similar to the pattern it did before it ran 68% in a few hours on Nov 8th... similar pattern happening here and expecting a run within the week... next PT is 26. Loaded with shorts so can be a decent squeeze.
- $NEGG is in a Rising Wedge formationg, which is a bearish formation - The RSI is showing bearish divergence with diminishing volume - The 50 and 200 Simple Moving Averages are coming in for a cross -> Death Cross (Bearish)
If this retrace a bit more imma jump in hard NEGG tell me what you guys think