Billy Joe wrote the following about NEW:
I’d like to hear your opinion on a long term (2-year) chart of NEW. Is that a head and shoulders or is it just going sideways? It’s trading at about 4-5x earnings.
As you can see from the charts below (weekly followed by a daily) I don’t like the stock right here, long or short term. It could certainly be ‘cheap’ based on fundamentals but there’s nothing in the technicals that would make me a bull on it right now.