NAN chart, page-7

Don't know that I would be classified as a expert, but charts indicate support at around 3.00 and then the 2.70s.

NAN had been going great guns. But for the lack of any recent meaningful news has been tracking the SPDR S&P Biotech ETF (XBI). I'll show you.

As an exercise go to yahoo finance charts "uk.finance.yahoo.com' Load up a NAN 6 month chart and use the compare option to load up XBI. Here you can see that NAN significantly out performs the XBI EFT but tends to roughly follow the same upswing/downswings while moving ahead. This is due to the good news coming out of NAN for the last six months.

Next exercise. Change the start date range of the comparison to the 29th of August. You'll see that NAN is roughly tracking the XBI EFT not outperforming much at all.

The cause is since 29th of August there has been no meaningful news so its just following the XBI. Without some good news I think that it will continue to mimic the XBI.

Currently the XBI has been falling since 27 Sep. The MACD divergence is still negative indicating further weakening, the only glimmer of hope coming from the slow stochastic which may be about to turn.

So we need some good NAN news soon or the XBI to turn upward.

cheers