Next DC (NXT:ASX)
Technical Analysis: Next DC has been on a strong run over the last few years as a Tech stock, like many recently pulling earlier this year. We see key short term resistance at
around $14.00 per share which is where we see the stock as ‘over bought’ given the current rally. There is strong support between the $11-12 level which could be tested
over the near term. Given the strong fundamentals of the business there is strong upside over the medium to long term and with most tech stocks always prone to short
term volatility – especially at these levels ( similar to what was experienced last year over the downward channel Oct 2020 to March 2021 – but more likely to a lessor degree).