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Pennystock NEA.ASX

ASX:NEA   NEARMAP LTD
Aussie Market did 145 Buys out of 2035 Aussie stocks.

Let's see some previous history data by VectorVest:
16-Apr RT: 1.14
13-Apr RT: 1.17
12-Apr RT: 1.17
11-Apr RT: 1.15
10-Apr RT: 1.13

NEA .AX has a current Value of $0.08 per share, which is overvalued compared to its Price of $0.93 per share. Value is computed from forecasted earnings per share, forecasted earnings growth, profitability, interest, and inflation rates.

As the relative timing ( RT ) was climbing in the last 5 days, it is a good sign for a longer run.

Let’s have a look on the technical analysis:

Firstly, a "Symmetrical Continuation Triangle" chart pattern formed on Nearmap Ltd. InfoTech(Software&Svcs).
This bullish pattern shows two converging trendlines as prices reach lower highs and higher lows. Volume diminishes as the price swings back and forth between an increasingly narrow range reflecting uncertainty in the market direction. Then well before the triangle reaches its apex, the price breaks out above the upper trendline with a noticeable increase in volume , and also shoot over 0.97, confirming the pattern as a continuation of the prior uptrend.

Support & Resistance:
Ichimoku plays a key role telling us that the major resistance (Kijun-sen) is 0.9825 and a very strong support level formed by the 26 periods projected green cloud at 0.875. Because of chin-kou span is still jammed within the candlesticks , we expect this penny stock is still doing a sideway instead of any reversals.
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