On Tuesday and Wednesday this week, it looked like the stock price of New Energy Technologies, Inc. (OTC:NENE) is falling through its support levels to a new bottom. Though, yesterday NENE surprisingly jumped up. 
Thursday session closed with a 4.10% price increase for NENE at $1.52, but the low trading activity of only 14,119 traded shares is not a strong positive signal. During the session, the highest share price was $1.57, or below $1.60, which in turn seems to have now turned from a support into a resistance level.
The filing of NENE latest annual report could be well associated with the value loss of the stock as the 10-K appeared on Tuesday afternoon. On the following day, NENE announced it has been invited to present at an Annual Conference on December 7, 2011 in Los Angeles. The conference is organized by a non-registered investment advisory company focused on micro-cap stocks, and NENE presentation would concern the company’s recent financial results and its plans for the rest of the year.
In that respect, probably the lack of notable progress in the company’s operations is what led to disappointment after the filing of the annual report. According to it, the company by now seeks to develop six marketable products based on its alternative energy SolarWindow technology, though so far NENE has not managed to go beyond producing working prototypes for part of those planned products.
Commercial launch is thus far away in the future, and will require substantially more research and testing. In addition, NENE had around $2.3 million in cash at the end of August this year, which will not be sufficient to bring the company to commercialization any of its intended product.
