Stock of the week ASX:NEA.

I am starting a weekly series of analysis where i will pick up one stock every week for TA.

Today’s stock is none other than the famous ASX:NEA or NEARMAP. This stock looks like is trying to free itself from shenanigans of the bear market.

From the TA, here is what I see:
- a inverse H&S formation in a making if it is confirmed we can expect the stock to move towards the 3$ once again.
- price above 50MA - bullish
- daily and weekly velocity positive - bullish
- price above the 23.6 fib - bullish
- Rsi almost around 70 - neutral so far this stock historically challenged the Rsi oversold levels
- stock below historic resistance 2.01$ - not a good time to enter before that level is taken.
- price below 200MA - bearish

To me bulls have more juice than bears but for late-comers better not enter before 2.01$ Or 1.7$ retest. I am in this stock since the low 1$ hence i plan to scale up my position when daily candle close above 2.10$

I will keep you updated if any change happens for this stock.

Keep smashing the likes if you like these TA.

Finally DYOR.


Great analysis and prediction!
Good weekend y’all that traded this stock after this TA. Stay tuned to my new Stock of the week series this Sunday.
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