The New Zealand Refining Company Limited (NZR.NZX)

3 April 2018

Technical Summary: As we move from left to right on the one year chart above there is not much action for technicians to get excited about. The stock drifted along without showing investors much. There was one key moment of strenth in the middle of the chart where the stock bounced quickly back from a short pullback. Later on the rightside it was disappointing to see the stock break through this low with a gap to the downside. The trend now for the stocks is most definiately down and there is no reason to buy
unless you were picking a fundamental low. On the long term basis the stock has been a rollar coaster ride swinging from a low of nearly $1.50 per share to a high of nearly $4 on the 5 year chart.

A chart that is showing mixed signs of strength and weakness

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