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Novus Acquisition and Dev Corp (OTC: NDEV)
Novus is a stock that I mentioned in last month’s Magazine and as I compare the chart from when I wrote last month to now I must say that not much has changed. The stock ran into resistance around 60 cents before pulling back a bit but the chart setup is essentially the same. As I noted above, we have seen some “higher lows” start to form which is a good indicator for the bulls. With the 200 day moving average just a few cents away, we could see it start to act as support with perhaps a 3rd “higher low” to come. I would be watching for any signs of big volume coming into a move to either the upside or downside.