Market Mad Rene Rivkin Nautronix.

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    posted: Monday 6.00 a.m. Sydney time May 13, 2002
    last price: 0.62 code: NIX
    It was announced on Thursday that the company will reap a net benefit of $13 million due to a favourable court decision in the U.S..
    Consider that the company has net tangible assets of 49 cents per share, even before the $13 million is accounted for. When the $13 million does come into play, the nta rises to 60 cents per share.
    It does therefore seem unlikely that the share price will be seen below 0.60 from here.
    In terms of the chart, the all time record volume on Thursday tells the story. That record volume day also coincided with the bullish topside penetration of the 200-day moving average, intersecting today at 0.60. It does indeed appear that 0.60 is the key level.
    If the price was to close below 0.60, I would need to reassess the situation, but until then, the target for Nautronix is 0.82.
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