Ildsrud I'm encouraged by today's 'inside day' close, albeit on...

Ildsrud

I'm encouraged by today's 'inside day' close, albeit on average vol.
With the MACD potentially looking like a rejection of a negative cross, it adds more positive potential for SP appreciation.
I concur with your pennant formation, which hopefully will break upside by cob Wed 17/8.
If so, it suggests a ~4c potential gain, up to your 26-27c area - which coincides with the ~27c floor price indicated by the CN buy-in share price set at the EGM.
So, based on the above, I reckon accumulation is now underway at the current cheap prices, with a 'melt-up' occurring this week.
This should bring us back to the 27c resistance set in Feb/Mar this year, which if broken with reasonable vol should provide the floor price for another leg upward in coming months with further positive news flow.

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