Im actually surprised no one seemed to see this coming..looking at it simply(perhaps over simply) it exactly what happened before when competition was introduced.The SP took a bit of a ride down.
IMO we are in market sentiment territory atm (not in a huge way though)
I think it could breach resistance for that reason and still make a comeback,simply because thats what it did before,or it could bounce back today(there are a few buys @1.10 but only around 1000)
flying to Queenstown at night through that canyon on a blustery night--Ayai yai yai yai!
Meanwhile theres already an accommodation shortage.....Queenstown RIP
On an unrelated note my friend knows someone who bought a section outside of Wanaka and put a Yurt on it(apparently you can buy them in Christchrch -Apparently they are quite spacious-Id love to go see it.
Cool eh?
http://www.tipis.co.nz/yurts.html