Wednesday, June 4, 2014

NQ Price Is Taking Revenge After Came Down Over 70% Since February

NQ came down from February high of 22.33 to a low of 6.25 last week. The stock is up over 34% today. Stock has a float of 22 million shares and today's trading is now over 26 million shares which equals to over 7 times average volume. An independent audit has found that publicly reported financials have been "verifiable and consistent" with actual cash balances and revenue.  The stock, had been depressed by Muddy Waters report last October accusing the company of financial wrong doings.  The auditor's report may bring about significant recovery of the stock price. Technically, NQ has formed the most bullish Island Reversal pattern today. It also filled a gap created in mid May. It's trend is now up . Next resistance is the 50 day moving average near 12. Further price recovery may take it up to 200 day moving average near 16.




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