"Nearmap (NEA) – Accumulate
After posting a record high of $4.29, the price reversed course and has been trading in a correction mode over the past three months.
While at this point there is no clear reversal signal, the selling pressure has clearly eased and the price has been trading sideways, fluctuating between $2.48 and $2.83.
The weekly and daily momentum indicators have approached oversold territory suggesting that the price is likely to bounce soon.
The first upside price target is $2.80 followed by $3.05. We are comfortable to open a small long position at current price levels."
