88E Charts, page-124

Wow, over 2 months since an addition to the chart thread!

Here's one (London daily).


With some comments;

• That gap @ 1.15p was closed 3/1, and actually was hit again on the 7th, so probably is our resistance over there at the moment.
• RSI starting to edge back from overbought now, dropping around a couple points a session. Should see around 50 (mid-point) by the end of the week, which will please those who worry about such things.
• Volume traded since the issue of the new shares is 600m in London, 286m on the ASX, plus Chi-X (?).
• More importantly the VWMA over those 37 sessions is just 0.995p in London, and $0.0170 through the ASX.

Those key VWMA numbers tell me there has been very little opportunity so far for the insto's and sophs who participated in the shortfall bookbuild to get their hands in the cookie jar yet. It will happen, so that opportunity is still ahead for us too.
What i am seeing at the present, is the left buttock complete, and the cleft now largely formed. The size and shape of our right buttock will of course be determined by our appetite for risk/reward.
(others will see a cup and handle, and are awaiting the 'j' curve )

Still a bit of news to come around Winx. Ice roads complete / spud a month or so away.
And then what is it, 4-8wks(?) until we start to understand a little around our eastern blocks prospectivity.

Still reckon we'll get sucked towards filling that gap vacuum (London 1.54-1.66p / ASX $0.027-$0.031), and there are other gaps above that, for the more excitable!

Anyhoo, just my opinion.
GLA, & enjoy the ride.