@Moneyme, from everything I've read and videos that I've seen I've confidence that Patrick Quigley is very focus in achieving success for Nearmap in the US.
Nearmap might have traded in a particular range in the past but as the fundamentals of the company improves over time, it is illogical to continually assume the stock will trade in the same range. Therefore the trading range of this stock must also move higher over time.
For so long this stock has struggled to stay above the 60c resistance, now if we are indeed going to see a shift in the trading range then the previous levels of resistance might very well become the new supports for this stock. If this is the case then any price in the low or mid 60s could be the new support for the stock.
But rather than trying to pinpoint a new bottom, for some buyers, accumulating & averaging down their purchase price anywhere in the 60s also seems to be an effective entry strategy.
Anyway, good luck to all.
NEA Price at posting:
69.0¢ Sentiment: Buy Disclosure: Held
