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$2.10 nearmap ltd

False Base broken - now heading below $2, page-81

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JayWin

3,550 Posts.

413

14/10/19

21:18

Post #: 40878790
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Originally posted by Jamieevie: ↑

$1.90 is the lower bound of the downwards move, with the upper range of $2 more likely. As there's no selling climax/automatic reaction yet you can use other indicators which could suggest where it could occur - long term trend support, fib extension, and weekly RSI (currently at 40 so not oversold) all suggest further downside is possible with $1.90-$2 as the final selling zone. Could be wrong of course but until there is a selling climax with an automatic reaction to confirm it then imo more likely to have a final downthrust to that price than not. So far every weak rally here has found plenty of supply which is more likely preliminary support. Could be proven wrong of course if it upthrusts from here and then holds this price on a retest.

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Basically, could go up. Else it’ll go down.

NEA Price at posting: $2.53 Sentiment: Buy Disclosure: Held
9 Upvote

3 Great analysis

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