EarningsBeats.com Digest for February 26, 2021
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Small Caps Can Produce Big Returns; What About This One?
New Age Beverages (NBEV) is a $325 million company that develops, markets, sells, and distributes healthy liquid dietary supplements and ready-to-drink beverages. It's a very volatile stock that has seen significant moves in both directions in the past few months. Recently, NBEV has fallen more than 40% after nearly touching $4.60 earlier in February:
Volume has been quite heavy the past two weeks during NBEV's selling, but it has a history of holding critical price support at $2.60. If it does fail there, then I'd look to the late-October low closer to $2.30 as the next support level. I count a handful of reversals at $2.60 since November 2020. After its AD line soared, NBEV saw that line fall back dramatically the past two weeks. However, while price support has held at $2.60 rather
consistently, the AD line has consistently printed higher lows, quite possibly a very bullish signal.
Happy trading!
Tom Bowley
Chief Market Strategist
EarningsBeats.com
Better Timing. Better Trades.
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