NLST fell victim to the broader sell off yesterday and dropped significantly on no news. The low of the day managed to fill the gap at $1.73 but it managed to rebound to $1.91 which is above the .23 fibonacci level.
It also tested the YTD POC line ($1.86) which represents the price where the most shares have traded YTD.
With an RSI of 39 NLST is oversold. With major upcoming catalysts this looks like a good adding point. I will be adding significantly at this level but holding back some funds in case it decides to test the 200 SMA.
Target: $2.27, $2.63, $3 short-medium term
It also tested the YTD POC line ($1.86) which represents the price where the most shares have traded YTD.
With an RSI of 39 NLST is oversold. With major upcoming catalysts this looks like a good adding point. I will be adding significantly at this level but holding back some funds in case it decides to test the 200 SMA.
Target: $2.27, $2.63, $3 short-medium term
