NEA Target $1.90?

Commentary by Graeme Newing
http://www.newingonstocks.com/

Mon 23 Jul
“Trading portfolio
This morning I completed the purchase order in Audio Pixels (AKP, $16.79 up 59¢, $451m) at $16.10, striking good fortune in my timing for once.

I also added one third to the position in Nearmap (NEA, $1.55 up 8¢, $611m) at $1.545 after its breakout. The stock is now the biggest holding at 7% of the portfolio.

Despite the relatively heavy fall in the overall market the portfolio had a good day , rising 1.0% to take the YTD return to 2.5%. There were three big contributors, the first being NEA +5%, the second being FGR +5% and the third being LVT +11%. APT +5% was also of interest, while on the negative side was APX -2%. Taking these in turn:

– NEA at $1.55 up 8¢ has broken upwards out of what could be halfway pennant, in which case the target is $1.90.”