NWZ Update- Price again failed to respond towards the upside....

  1. 16,642 Posts.
    lightbulb Created with Sketch. 1291
    NWZ Update-

    Price again failed to respond towards the upside.

    Over the past four days price swept lower and found a sharp increase in supply
    It then responded towards the upside in a potential supply vacuum, and suggested a reversal over two bars.
    Following that, price moved lower again back through the body of the past two bars and found substantially lower volume than was present previously.
    And on Tuesday price could only make a very shallow dip lower, before recovering to close level, and volume was the lowest for over a month.
    On Tuesday there was almost no selling pressure at all......
    So unless there is a surprise, and fresh news supply suddenly comes in again (and in these small and micro cap stocks this can happen),
    it appears price could easily make a push higher now, should it choose to.
    NWZ 190116.png
    Z44.png
 
arrow-down-2 Created with Sketch. arrow-down-2 Created with Sketch.