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NEWL Stock Has Not Had an Up Day in a Month

sinking-shipNewLead Holdings Limited (NEWL) is holding strong as the crappiest stock in the entire market in 2014. We profiled its problems in this article a little less than a month ago when the stock was trading at $2.89/share. Now, a mere 19 trading sessions later, which has featured an amazing 18 down days and 1 break-even day, the stock is down to 46 cents. The financials of this company are a complete mess, but it is almost impossible for a stock to suck in this many consecutive sessions without some kind of technical bounce. NEWL can very easily pop 20-30% in the next few sessions based solely on technical and oversold conditions. If management is able to spin some kind of positive news, the pop may even be larger in magnitude.