Thursday, February 8, 2007

New Century (NEW) Chart Thought

Will we see an oversold bounce on New Century shares tomorrow? Who says it's oversold? Slow STO shows the last time there was a decent little move in the stock was when Slow sto moved to about the 20 level. It finished today at 50. RSI is indeed flashing an extreme level, but it would appear that there's still room for the a contined slow bleed in the stock as investors adjust to the new realities.

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