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$2.10 nearmap ltd

1 possible buy set up.....now.too late for those who want to buy...

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moremoneyplease

2,558 Posts.

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30/12/19

15:32

Post #: 42165624
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Originally posted by Jamieevie: ↑

3 possible buy set ups I'm watching for in the near term.

Bulls defend the 2018 demand trend line means that around $2.12-$2.20ish (depends when its hit) gets held and takes out the supply line.

Break of the ice (ie $2.35) and rally back to it which fails then sees a final capitulation sell off to around $1.85 - ie prior high likely to act as support and then it starts being accumulated again through early-mid 2020.

The bull case is basically where the stock has found support so far is some sort of demand trend line which will hold, eventually break the downtrend supply line, and then start putting in higher highs and higher lows. Obviously I could be wrong that it is being distributed and is in fact putting in an accumulation bottom but as I've said the selling of the upthrusts and building of a large short position suggests to me the CO is feeding more stock and this trading range will end with another selloff rather than a sign of strength but I could be wrong and if it does this I'll note it too.

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1 possible buy set up.....now.

too late for those who want to buy in the 50s

NEA Price at posting: $2.63 Sentiment: Buy Disclosure: Held
2 Upvote

0 Great analysis

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