NAE Chart, page-1253

Hi Merrilands, no response to your chart request so thought I'd offer my thoughts;



Firstly, I'll admit that I've been forced to adjust both the short and medium term trendlines on NAE's chart several times over the last few weeks, as the stock hasn't reacted in the "expected" technical manner. We've now hit recent support/resistance at 2c. which also happens to be the price of the last CR (so maybe the recent selloff is based on technicals after all). We're essentially at a cross over point between the short term downtrend and medium term uptrend. I personally feel the recent selling is close to exhaustion, especially with news of drilling at Redmoor and preliminary results for Otago South on our doorstep over the next 2-3 weeks