DUB Chart and TA, page-2

An update to the DUB chart is shown below.  I have included on the chart my now favourite indicator, the “WaveTrend” indicator.  The price action can be seen to still be within the previously identified up trending channel.  The recent price action has formed a Bullish Flag pattern in an Up Trend, also now shown on the chart.  The Fib projections for a breakout of this pattern have a SP target of 60c on the next impulse move, which is also the level of the start of downtrend High which occurred on 31/01.



The SP price action is now very close to the top of the Flag pattern and the lower level of the up sloping channel.  Given that the quarterly is due on 31/07 we should see a breakout in one of the two directions in the near future.  The WaveTrend indicator is still heading down (correcting from an overbought condition) but is now at the level where the previous impulse move commenced and is also flattening out.  Given the above TA I feel that the odds are in favour of a bullish breakout.  However, as we all know, as with all low cap spec stocks the SP direction is totally dependent on the news that will be contained in the quarterly.

Good luck everyone, and remember to DYOR - Wilf
p.s. daily chart prices are as at 3:00pm today.