We have to remember that NEN raised a lot of cash at 30c. Many of these holders have been waiting to get their $$$ back. Some will have sold in recent days. Some holding on. I was surprised that it moved up to 35c early in the week, as I though the cap raising overhang was going to 'cap' things a bit.
This strong move above 30c is in my opinion, a very positive sign as many of the cap raising holders are holding on.
I expect a further positive announce in coming days re NSA increased production and perhaps a JV partner for Paloma.
NEN Price at posting:
33.0¢ Sentiment: Buy Disclosure: Held