I am a strong believer in NEA but there have been some interesting trends in the last few days:
- volume picked up massively from Thurs to Wed this week. In some instances, we had number of buyers exceeding number of sellers. My hunch is it was an insto investor looking to build up a position, which has likely caused the quick build up in price.
- this has now dropped since yesterday. The ratio of buyers to sellers has gone significantly the other way.
To swerdna's point, I think the long term headwinds for NEA are strong although I expect we will see some short term volatility. The results can't come soon enough I think its August?
NEA Price at posting:
52.0¢ Sentiment: Buy Disclosure: Held
I think its August?
