NEA Re-Test Bottom at $1.70 Range?I think NEA is going to re-test previous bottom at $1.70 Range.
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Nearmap
$NEA Nearmap what are you going to do? Worth adding to the watchlist. Breakout or Break down coming soon.
The XJO is bullish at the moment, technical indicators are bullish. So it is more likely to go higher at this stage.
But we should not buy right now and should be patient + wait for confirmation.
ASX:NEA - Time to pay attentionSeems that the next week or so will be crucial for Nearmap Ltd (ASX:NEA). I'm seeing many mixed signals that is telling me simply to wait another week to see what happens. I love what I see technically, however I do have some structural concerns.
Bullish arguments:
Location: Ranging just above the 0.618 fib
Structure: Triple bottom off the 0.618 fib
Divergence: Strong div in histogram, currently unconfirmed. Triple divs in both willy and RSI (!!)
VPVR: Sitting at the POC
Candles: Last week produced a weekly bullish engulfing candle
Areas of concern:
VPVR gap below is nasty. Filling that void would result in ~28% drop from current prices.
OBV has been making lower lows since November. We're currently testing its 13EMA
Several weekly gaps below that haven't been filled.
Descending triangle chart pattern.
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Nearmap (NEA) - Technical ForecastAccording to the triangle harmonic pattern and resistance lines, the next nearmap target is $4.3 zone .
