So on 13 October shortly before the first upthrust I said I doubt this distribution is over, it doesn't rule out an upthrust from this level but it would be completely sold off and consist of short covering. A few days later there was a huge upthrust, but it was completely sold off.
On 28 October when the share price was $2.71 I suggested it could slowly trade down to $25 kkw said to me "Doubt it. 2.5 is over - shame you didn’t get your fill. I don’t see a retest of 2.5 occurring anymore. Way too much accumulation going on. Accumulation actually started early September. 3.50 after agm is my bet." It made a low of $2.39 8 days later.
On that same day I posted a chart explaining the short term accumulation being put in and said that it was setting up for another short term rally - after 5 days of accumulation and supply absorption it had a huge really into $2.93.
You can go back and check all my posts in this thread - by my count that's at least 3 accurate analysis readings which was confirmed by the follow up price action just in the last 2 months. Think that speaks for itself.
NEA Price at posting:
$2.74 Sentiment: Hold Disclosure: Not Held
