Net Element International Inc (NASDAQ:NETE) had a good move on Friday. The stock broke and closed above the 50-day EMA for the first time since Nov2014 on expanding volume. It was the second heaviest volume this year. The stock could touch an upside target of $1.95/2 in the short term. The technical daily chart shows the stock is now back to uptrend and with MACD crossing to the upside we may see more upside. The ADX is also indicating a strong bullish outlook with +DI on top of -DI. Friday’s high was $1.31, which is resistance for the follow through move on Tuesday. If we see follow-through tomorrow it might run hard. Next major resistance lies at $1.56. Folks, always keep a trailing stop loss to book profits in case to exit any reversal in the trend. Technically speaking, the stock is now painting a short-term Bullish picture.
Miguel, giving "financial advice" like this is criminal. You are talking about a 59MUSD stock ?! More scandalous : only 10 MUSD floating stock ?! Are you SERIOUS?! It means that if some guys follow you in your "bad trip", stock will automatically rise at least 5 cents ?! Even if stock rises to USD1.7 in a few days, what happens if there are no more buyers? BOOM, 1 dollar again or even below!!!! Nice uptrend ? NOT ! Moreover, one week ago, you recommended to buy Zynga and after a 23% downside (when Nasdaq was up +4%, nice call), no explanation, no exit plan ?! This is not SERIOUS. If you continue to give bad advice, we will call you Miguel000 and not 007 ! Chris Mac
Excellent entry call Miguel! I would recommend though that you pay more attention to trade management. Once this bounced way outside the upper Bollinger Band in late Mar, it was time to get out. Good entry call !
Net Element reported earnings on August 14. Q2 net revenues were $16.46 million, an increase of 2% compared to the second quarter of 2017 driven by organic growth of the transaction solutions segment. International transaction solutions segment experienced a decline of 19%. The company is not profitable; it generates an EPS of -22 cents per share. The stock has a peculiar pattern; every three months it pops. The last surge was in June, 34%. Before that, the stock more than doubled its value in March this year.