price chart - where to from here?, page-32

Short-term perspective -

Looking at technicals, the movement down yesterday was on low volume, which in my opinion does not represent a change in trend at this point. Volume did appear to favor larger stocks on the ASX 100, which has been a trend whenever there has been a decent market performance recently. I think this has to do with risk sentiment shifting money around to safer stocks. Traders also seem to be pointing out that around March the market will have a pull back, so perhaps this is being anticipated.

Next movement up must break that 46-47 cents resistance point in order for a strong upward trend to resume i would assume. Any 'chartists' with differing views, please reply.

Long-term perspective -

Hopefully heaps of price drivers - Farmee announcement, Paloma testing, and new prospective blocks that may all provide positive news flow. With all these positives for Nen it is also icing on the cake with the existing producing assets that decreased costs and improved profitability last quarter. This cash flow source should remain strong with high oil prices.