trading & chart review 4 july 2013

Dear All,

The trading action was:-

24c- volume 807,914, value $193,899, trades 50
24.5c- volume 123,800, value $30,331, trades 14
25c- volume 2,265,351, value $566,338, trades 38
25.25c- volume 4,250, value $1,073.10, trades 3
25.5c- volume 490,633, value $125,111, trades 23

VWAP- 24.831

By time:-

10.00am volume 1,795,442, value $451,314, trades 43
11.00am volume 1,380,947, value $341,674, trades 50
12.00pm volume 171,774, value $41,226, trades 9
1.00pm volume 198,200, value $47,568, trades 8
2.00pm volume 56,438, value $13,545, trades 4
3.00pm volume 12,246, value $2,969.70, trades 6
4.00pm volume 76,901, value $18,456, trades 8

Market Volume 3,691,948
Value $916,753
Trades 128

Current Bids 3,078,640 v Current Asks 2,782,107

I understand the notion of selling into good news but I can't understand doing it today in light of NEN's overall position, and also selling with such a tight trading range today. Anyhow, looking at the volume the average over the past year is 1.4 million shares a day today's was 3.7 million.

One thing that is interesting is the conflicting signals with regards as to whether the shares have been overbought or not.

The RSI(14) is 48.415 so neither an overbought nor undersold indication.
The Slow Stochastics is heading towards the overbought territory with the K% 66.545 over D% 59.748
The Fast Stochastics is generally heading to the overbought range but may turn downwards.
The Money Flow Index is neither indicating an overbought nor oversold position.
The Ultimate Oscillator is neither overbought nor oversold.
The Bollinger Band range is High 28.443 and Low 20.607 suggesting the shares are neither overbought nor oversold.
The NEN shareprice closed above the Parabolic SAR trigger point with 20c being the Significant Point below which a reversal would occur.

Like today's action, tomorrow's trading will be very interesting to see. Will today's buyers get to sell into a little run from those who haven't caught up with the announcement, or will there be a tussle at that the 24-25c mark? Those selling now can't be locking in great profits I wouldn't think and I don't know why you would sell now given the company has highlighted plenty of factors as to de-risking. Maybe some bigger players are getting set.

If anyone has a few on the short term I would be interested in reading it.