Technical outlook – Approaching this share from a technical perspective, the Relative Strength Index (RSI) – 3-period lookback is nesting in extreme oversold conditions and now close to levels when the bull-trend was established back in January 2018.
After assessing the extent of the sell-off this share has displayed, we believe the bearish pathway may soon reverse.
If the brakes are hit from the $0.55-60 level, then a potential reversal, followed by a bullish break-out may emerge.
If so, then a correction is foreseeable to $2.00, (as a broader outlook).
Company Overview – Nearmap Ltd (NEA, formerly Ipernica Limited) is a provider of geospatial map technology for business, enterprises and government customers.
NEA has worked with small and large organisations across the building & construction, architecture and engineering, government, insurance, rail, real estate, roofing and solar businesses. It is launching the beta version of its Artificial Intelligence Product. Former Names: Ipernica Limited (IPR), 29/11/2012. QPSX Limited (QPX); 26/09/2006.