You can see from a charting TA perspective that after some pretty substantial downtrends over the last 12 months NTI has followed up with some subsequent sidways moving trends which have caused a bollinger band squeeze. The previous squeeze being in mid August to October 2017 which was followed up by a large breakout (preliminary results). The resistance line in the previous sideways channel is the current support line. The latest sideways moving resistance line has been tested 6 times only breaking once to failure in December. NTI has only just breached the resistance line again at 20.5c indicating that it may now be becoming a new support line.
With impending news and a bollinger band squeeze occuring I wouldn't be surprised if a potential new support line is created at 20.5c and a new short term resistance line sits at 23c.
Obviously when the double-blind results are released then a testing of previous highs at 50c is more than likely. Accordingly, do not be tempted by a quick buck and sell at anything less than 0.45c when the good news occurs - as you will be selling yourself short. In my opinion NTI will re-rate around the 50c mark so there is no rush to hit the sell button if you are a short termer.
My opinion only.
NTI Price at posting:
20.5¢ Sentiment: Buy Disclosure: Held
