The sp had plenty of opportunity in the past 2 months to slide...

The sp had plenty of opportunity in the past 2 months to slide further and yet it didn't.

There is also a price gap introduced from 28/3/17 (high of $0.445) to 29/3/17 (low of $0.49). Although this price gap was partially filled on 15/5/17 when sp fell to $0.47, the sp never had another chance to revisit the $0.45-$0.47 area. This is also good evidence we are at or very close to a solid support level.

From a market depth analysis of yesterday's pre-open queue, it is important to note the buyers came FIRST, but although the buyers build a huge demand between $0.49 - $0.52 yesterday, we did not see much price increase. This somewhat implies that these buyers are patient & they are either increasing their holdings or trying to enter (or re-enter) the stock because the upside potential is now far greater than the downside risk.

As we are getting closer to the end of financial year 2017, holders that got into the stock previously between $0.70 - $0.965 might be desperately looking for an exit to realise their losses and reduce their tax paying obligations.

I believe the buyers (who wants to scoop up large parcels of the stock) know that and that's why the large supports at $0.50 - $0.52 might continue to tempt sellers looking for a tax loss exit throughout June (or at least until less patient buyers come in and increase the price again).

Remember, there are many reasons to sell a stock, but there is only ONE reason to buy a stock.

With NEA, the longer it stays at this support level, the greater the chance of an extreme price explosion later on.

Good luck to all holders!