buy side building strongly & quickly, page-4

TA sceptics may want to look away now, I use a combo of both TA and FA and it works for me so don't shoot me down if you don't like it. I'm sure I don't need to preach any FA to the crew here. While I'm at it thanks to T-shirt for your FA work, first class.

Scoob scroll right to see Friday's price bar...

I've been watching NEN for ages, and although I don't like the gap it left on the chart Friday it was pretty obvious from the trading action (and the Euro news) it was headed north. So the buy decision was more on overall market sentiment buying into a good FA story. Just annoyed with myself for not taking the 30.5 base last week but that's another story...

It had formed a prior swing low and Friday's jump was a higher swing low.

However the 35c mark was solid resistance (both the horizontal line and also that sloping downtrend line) so the fact it's broken that today on decent volume means the next resistance would hopefully be the next sloping and horizontal lines as marked.

Complex for some but makes things more rational for me.