@surffy , here's a few thoughts on our chart. Of course it is just a subjective look at objective patterns, and others will read the leaves differently.
So;
The MACD indicator historically looks to have been reliable here, with 7 out of last 8 times it crossed the signal line seeing some SP appreciation. I believe it will cross again today, having dipped below following Friday's dump.
RSI indicator also dipped below 30 (oversold) last Friday... for only the 2nd time in well over a year. Last time that happened we saw a rise from 4.0 to 6.5c (albeit not before a scary dip to 3.4c)
Chart sure looks ok to me, and i suppose some of it depends on that whether that 2nd large volume reappears/changes again, including what the intent of that order is.
Many times here we've seen SP buoyancy repeatedly sold into. And i guess that lends us to think some sort of SP manipulation is in play to help a whale (NB or whoever?) extricate his position.
Who knows...What i do know is i accept reluctantly that these people are way too smart, (and have all the tools they need) for me to try to combat.
ALC Price at posting:
4.7¢ Sentiment: Buy Disclosure: Held
