Stock of the week ASX:NEA.

I am starting a weekly series of analysis where i will pick up one stock every week for TA.

Today’s stock is none other than the famous ASX:NEA or NEARMAP. This stock looks like is trying to free itself from shenanigans of the bear market.

From the TA, here is what I see:
- a inverse H&S formation in a making if it is confirmed we can expect the stock to move towards the 3$ once again.
- price above 50MA - bullish
- daily and weekly velocity positive - bullish
- price above the 23.6 fib - bullish
- Rsi almost around 70 - neutral so far this stock historically challenged the Rsi oversold levels
- stock below historic resistance 2.01$ - not a good time to enter before that level is taken.
- price below 200MA - bearish

To me bulls have more juice than bears but for late-comers better not enter before 2.01$ Or 1.7$ retest. I am in this stock since the low 1$ hence i plan to scale up my position when daily candle close above 2.10$

I will keep you updated if any change happens for this stock.

Keep smashing the likes if you like these TA.

Finally DYOR.