50c is the key support that needs to hold here. After 5 years of failed breakouts the long term chart is getting very close to a big decision in the business model. Nothing announcements like today will only feed on the negativity of the last 12 months and the break down of the long term trend will spell disaster for holders.
Alternatively, the longer it can drift aimlessly within this trend it will give itself the greatest opportunity to sort out the mess in the US and break to the upside.
There is a perfect trade scenario shaping here in NEA - short or long. Plenty of time yet.
NEA Price at posting:
63.0¢ Sentiment: None Disclosure: Not Held
