The St James' Park outfit host Swansea a week after several thousand fans boycotted their last home game against Tottenham Hotspur - a 3-1 defeat - and Owen is predicting a seventh Premier League loss in a row for John Carver's men.
Newcastle have struggled badly since Carver took over and, while Owen admits the chances of them being dragged into a relegation fight are slim, there is an alarming lack of any sort of direction on Tyneside at the minute.
As such, the now BT Sport pundit is backing Swansea for a win and feels things are 'pretty grim' for Newcastle right now.
He said: "Sometimes change is necessary but very often the grass isn’t greener when it comes to bringing in a new manager, as Newcastle have discovered since the departure of Alan Pardew in December.
"And I don’t envisage matters getting any better when they host Swansea on Saturday, as they could well lose their seventh league game in a row since beating Aston Villa 1-0 in February.
"It all looks pretty grim for Newcastle at the moment and I take Swansea to beat them either 1-0 or 2-1 as my main fancies."
Owen did, however, back a draw as his insurance pick, pointing towards the Swans' poor away record in comparison with the rest of the top half.
But his overall feelings are clear and few would disagree. Will Newcastle win another game between now and the end of the campaign?