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NetDimensions Holdings Limited

NetDimensions (Holdings) Limited 100p Target At 3 Year Price Channel Top

NETD Net Dimensions Technical Analysis 240415

 

What is interesting as far as the daily chart set up at NetDimensions (Holdings) Limited LON:NETD over the bulk of the past couple of years is the way that there has been such persistent bullish price action. This has taken the form of new support coming in at or above former resistance and in many cases actually much higher than previous resistance.
All of this positivity remains within a rising trend channel which has been in place since the summer of 2012, with the top of the channel possessing a resistance line projection heading as high as 100p. This offers the potential upside for those who are happy to follow this momentum play as the shares reach new near-term highs above the 80p level. 
In terms of what the money management level should be the favourite place at this point would be the 50 day moving average of 72p, just above the floor of the three-year price channel. At least while there is no end of day close back below the 50 day line the aforementioned 100p target should be a viable idea over the next 1 to 2 months. The other point to note currently is the way that given recent gains the shares are overbought with a RSI well over 80. The implication is that one should be looking to buy any weakness towards the 50 day line which would cool off the overbought oscillator condition.


NetDimensions (Holdings) Limited LON:NETD is a global enterprise solutions provider of talent and learning management systems. The principal activity of the Company and its subsidiaries is licensing of computer software and the provision of related services. The company's products and services help deliver and manage corporate training, career development, assessment and certification programs, and help clients around the world address growing regulatory compliance needs. The Company provides companies, government agencies and other organizations with talent management solutions to personalize learning, share knowledge, enhance performance, foster collaboration and manage compliance programs for employees, customers, partners and suppliers. The Company has four segments Software licensing, hosting services, Support and maintenance and Software customization and implementation.