NexGen currently trading at around C$6.01 a share. Support base sits at C$4.44 with the first resistance at C$6.43.

NexGen currently trading at around C$6.01 a share, we can see that there is a base of support along the white trendline on the chart (C$4.44). A break below this support base could see the price of this stock slide lower with the next support level at C$3.89 and then at C$3.25. From a technical aspect, the current bias seems bullish, with the price approaching tough levels of resistance at C$6.43 and then at C$6.82 (red oval). A break and close above C$6.82 may open the door for a move higher towards the all-time high set in April of last year (C$8.29 – green oval). However, this is more likely in the longer term and only if the price manages to break above the resistance of C$6.82. Looking at the technical indicators, both the MACD and RSI are positive with the RSI reading 55.