NEA 0.24% $2.08 nearmap ltd

Breakout imminent, page-12

  1. 267 Posts.
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    Although I'm a long term holder, I'm always keen in hearing from people who have their theories in exiting a stock during presumably peak price cycle swings.


    In charting, there is a saying that ONCE an established key resistance is broken on the upside, then it is very likely that the NEW support level is derived from the old resistance level. Right?


    Back on 25/10/2016, NEA reached an all time high of $0.95.

    And between 25/10/2016 to 1/3/2018, NEA traded within a price range of $0.43 to $0.95.


    But on 8/3/2018, when NEA broke through to $0.98, how does one work out that they should sell and then pickup stock again say at around $0.5 - $0.6 ?


    I too was thinking about exiting some of my holdings at $0.98 back on 8/3/2018, but luckily I didn't actually action anything because after hitting $0.98, the stock quickly broke through $1 and NEVER looked back.


    Fast forward to now, NEA just reached an all time high of $1.975 today, if it does break through $2, how does one know if it will ever go back down to $1.5 - $1.6 ?


    Since we've closed above the previous high of $1.935, why can't consolidation occur between $1.8 to $1.9 ?

    After all, when NEA burst through $1 back in March 2018, it never had any chance consolidating back below $1 at all, so why should this time be any different?


 
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