Aug. 31 at 10:14 AM
$NLST heading into this week/today, the technical setup remains strong. Friday closed at
$6.63 (+8.87%), a session high of
$6.67, after reclaiming
$6.50. On the chart, the recent move can be viewed as a potential cup-and-handle/continuation setup: resistance around
$6.50 has been broken, while
$6.80–
$7.00 remains the next major zone.
A
$7 test will most likely bring resistance given prior price history. However, I believe their will be some people wishing fulfill their old sell orders (from the 17th/18th August) at around
$7 to break even but once these are filled, stronger hands buy and the journey continues..
Netlist's Micron litigation remains a major catalyst. The Federal Circuit affirmed PTAB decisions rejecting Micron's challenge to key ’314 patent claims in February, and Netlist has since filed an ITC action seeking exclusion and cease-and-desist orders. The ongoing litigation creates a clear incentive and pressure for Micron to evaluate resolution.
What a place to be...
