breakout imminent (with charts), page-9

Dear chillam,

Please see the short sell list for 12 June 2013 below:-

NEN NEON ENERGY LIMITED FPO 93,699 549,937,848 .01%

http://www.asx.com.au/data/shortsell.txt

Clearly, very little shorting occurring!

As to more general charting observations it is difficult to know where the price will go on the charts alone. There has been a definite uptrend since mid April but as your write consolidation seems to be now taking place.

The price is above the 14 day, 50 day and 200 SMA, but the 14 day SMA itself is trending sideways, the 50 day SMA is positive and the 200 day is trending negatively. The RSI is at 55.88 indicating the shares are neither overbought or oversold. The Money Flow Index indicates that the shares are neither overbought or oversold. The Slow Stochastics oscillator is above 80 and is considered overbought.

Since May the On Balance Volume has a positive trend, but since June the line itself is basically trending sideways. The MACD is above the critical level of 0, but it has crossed the 9 day signal line indicating the price momentum has slowed.

The price is within the Bollinger Bands. Today's volume was a quarter of the last 12 months average of 2.3 million shares per day.

For mine, I am at my limit with my holding- all I can do is hope for good news. Who knows if California news comes out before any Vietnam news. I hope it does- it ought to. This may be the kicker from the current price levels. It is hard to know if the price will drift a dash if no news comes out in the next fortnight. On 16 and 24 May the price hit 24c. The last time the share price close was below 24c was 2 May at 23c. Is 24c a support level or will the price stay about 25-28c or perhaps even move higher as the company gets closer to spudding? For me it doesn't matter, I am locked and loaded.

I hope this train is pulling into MMBO station via TCF station! All aboard...