Technical Summary: There is not much to say about the chart of NZR. It has been a year of consolidation for the company after a pretty horrific 2016 as the company struggled in a difficult macro environment. The stock rallied at the beginning to a high point of around $2.90 per share in February before selling of sharply to a bottom of $2.30 in April. Since this time the stock has hugged its flat 50-day moving average as sellers have met buyers in equilibrium. The stock clearly needed a catalyst to break this deadlock and the company provided one last week as it managed to burst its main pipeline to Auckland Airport. The most important job of a pipeline is for it not to leak so this was obviously bad news. The stock gapped sharply down which unless the situation gets worse will likely be short term noise.