Hot Copper Charting and Chat, page-338

There is a decent chance the newly listed Coles (COL) is seeing the early stages of an accumulation.
Price dipped sharply lower on announcement recently, which may have been engineered, and saw some accompanying negative commentary at the time, this is often released to help create a negative attitude and encourage supply.
Volumes have increased considerably over this period, but price is no longer losing much ground.
This is not yet confirmed, but if so, the process may go on for some time.
An accumulation generally lasts for ~ 2-4 months, but may eventually provide a genuine opportunity in the large cap sector for the future.


cheers