AngusMcK

$NEA - NEARMAP - Being admitted to the ASX 200.

Long
ASX:NEA   NEARMAP LTD
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8
$NEA - NEARMAP - Being admitted to the ASX 200 .

Nearmap has been one of my longest held stocks and just an absolute beast of a performer. News out today has it being admitted Survivor style into the ASX 200 with MYOB being voted out. Should put it on the radar of more of the big boy investors.

MYOB Group Limited to be removed from the S&P / ASX 200 Index

SYDNEY, APRIL 15, 2019: S&P Dow Jones Indices announced today that it will remove MYOB Group Limited (XASX: MYO ) from the S&P / ASX 200 , subject to shareholder and final court approval of the scheme of arrangement whereby the company will be acquired by KKR & Co Inc (XNYS: KKR ).

S&P Dow Jones will remove MYOB Group Limited from the S&P / ASX 200 effective after the close of trading on April 24, 2019. Myob Group Ltd will be replaced by Nearmap Ltd (XASX: NEA ) in the S&P / ASX 200 effective after the close of trading on April 24, 2019.
Comment: Markets a bit too messy at the moment so moved back to cash at $3.59.

Will wait a few days to see what happens before any re-entry.

Comment: Updated NEA. I like that it is now above the EMA 20 and MA 50. I would probably give it another day or so to make sure that it does indeed close above the $2.75 resistance area... but has bounced off the $2.50 a couple of times so looks like that support is in and the bottom established. 10% gain over the last couple of days looks promising.

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Comments

Any updated analysis on Nearmap? Looks like it is trying to bounce off 2.50 and break out of the downward trend.
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AngusMcK SindubioJunior
@SindubioJunior, well spotted. It has been off my radar for now. Updated analysis above. For me Id probably give it one more day just to be sure...
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@AngusMcK, good call. Thanks
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