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NFTRH++: $NEWT Short Setup

$NEWT appears to be completing an ‘abc’ correction short of the 200dma and a gap down. Red circles show the overlap/resistance. I’m looking at 80-100c risk up vs $2.50 or more downside. I’ve been short this stock on a fundermental basis in the past and it is not without controversy so I expect volatility. Giving it a shot with those parameters and risks in mind.

NFTRH++ trade setup ideas are presented for consideration and further research only, not as recommendations. I am not an investment adviser and these are trade ideas for each to consider on their own.

Hammer

My name is Joe and answer to that, Hammer or GreyBeard. I grew up in northern Minnesota and began my career as a bean counter before transitioning to the finance world, first as a junior analyst / trader on an emerging markets desk. I moved on to perform due diligence and capital allocation for a NYC based hedge fund of funds for five years before joining a short only hedge fund as an analyst and principal. My interests are volunteering at my local food bank, watching the Minnesota Vikings and Seattle Kraken, and listening to music and attending as many concerts my aging body can handle.

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  1. Hammer May 28, 2025

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