Transcription
N UW, this is New Wellis. You can see this stock closed at about 2:15 yesterday. We did pop in the after hours till 3 and hold a majority of that. But the big move on big volume happening again here this morning. We actually had two impulse moves that took us higher. Uh here is why it rocketed today.
There's only one thing I could uh think of and it was um I mean I only saw news from Friday so I don't know exactly why we're uh getting this move here but I don't I don't see anything either. So, you know, if it's if it's regarding the board changes and the capital raise in relation to the board changes where I think I mean, if I read this correctly, it seems like uh the two people they hired uh are tied to, uh a 5 million investment, which if it doesn't materialize, they'll resign. So, uh little bit of a weird thing there.
Uh they have cash for one quarter. Uh they have some revenue, but they're going to need to raise capital. Probably the biggest reason that I would say this is moving is because it's just one of those low-float names that can uh get, you know, picked up and and uh tossed around by uh people with a lot of money. So with 876,000 share float, probably what we're uh seeing a lot of here is just uh the ability to push this around.
Um I didn't notice anything that um you know was necessarily driving this but it is in the health care space and that uh we we you know with the equipment and supplies and we do you know believe that that's uh going to have a pretty decent year. So uh as far as the chart goes uh this is uh currently getting some support from the 65 EMA uh trying to turn back up towards the uh the VWAP which I have at 515. Uh I think I you know want to see what's going to happen up at the VWAP if it's going to be able to break through and get through. I think the uh I would look be looking at the 565 area.
If if we can't get through that, we might just form a a head and shoulders pattern and come right back in. So, going to need to see what happens here up at VWAP. If we can get through that and that 565 area and continue forward above six like we did earlier than the pre-market.
Okay, we'll see if the uh 65 EMA holds here. Indeed, this is under a uh under a million shares in the float.