Keeping it Simple with Price Action and Technical Analysis
6-Jul-2024
The chart and trend of NEU looks very interesting.
I am analysing here the price action along with my planned targets objectively using Point & Figure charts on a 0.2 box size and daily timeframe. This is ~ 1% of current price, and very good for a medium to long term analysis.
My analysis and deductions from the chart presented below;
* The price is in a clear uptrend and now has been taking rest ( aka - consolidating) after making ~ 100% upmove since Dec'23.
* If we see the chart, that HUGE upmove, came after a long consolidation after it broke the multi-year resistance since 2005 in Mar'23.
* Now lets look at the numbers from these moved :
(A) The stock was at around 12 in 2005, and took 18 years to hit that price again in Mar'23.
(B) The stock then took just 9 months from Mar-Dec'23 to move up the same distance.(C) Now the price is consolidating, and if it maintains this strength and momentum, then we should see a similar upmove, hence my price target around 36-38. Condition being, that on a weekly / monthly close basis, it should stay above that immediate GREEN support zone below it.
** Disclaimer : I own this stock and my analysis may be biased and even incorrect. DYOR and dont trade without a Stop-Loss.
- Forums
- ASX - By Stock
- NEU
- NEU - Charts & Technical Analysis
NEU - Charts & Technical Analysis
-
- There are more pages in this discussion • 3 more messages in this thread...
You’re viewing a single post only. To view the entire thread just sign in or Join Now (FREE)
Featured News
Add NEU (ASX) to my watchlist
(20min delay)
|
|||||
Last
$13.61 |
Change
-0.590(4.15%) |
Mkt cap ! $1.739B |
Open | High | Low | Value | Volume |
$13.88 | $13.91 | $13.29 | $13.29M | 982.1K |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
1 | 20000 | $13.60 |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
$13.63 | 1000 | 1 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
1 | 1500 | 13.550 |
2 | 4497 | 13.530 |
1 | 3378 | 13.520 |
15 | 29080 | 13.500 |
1 | 3079 | 13.470 |
Price($) | Vol. | No. |
---|---|---|
13.630 | 1000 | 1 |
13.680 | 3079 | 1 |
13.700 | 1000 | 1 |
13.710 | 3079 | 1 |
13.740 | 3079 | 1 |
Last trade - 16.10pm 08/10/2024 (20 minute delay) ? |
Featured News
NEU (ASX) Chart |