Chart

Well after Tuesday's capitulation price action is looking good.  Still early days, sellers could end up dominating and driving price lower in the coming days or weeks, breaking the trend.  However there is higher probability the trend will continue because:

- Since capitulation on Tues, the opening prices have been 27, 26, 25.5.  Very significant as these prices are above Tuesday's opening of 24.5, showing buyer demand.  Additionally, price has not dropped to 24.5 at anytime since Tuesday either, and price has remained above the trend line.

- FA definitely comes into play at these levels.  On 14 Jun 17, after CAJ announced 'Sale of NSW Assets for $81.5m and Guidance' price closed at 25 after a big gap and 20.4M volume.  We have seen buyers come back in strong on Tuesday so this level of about 25 is definitely significant and should attract buyers, especially without negative announcements.

Perfect entry time now for those wanting in.  The bad sign will be price falling below the trend line, below 23.5 - 24 (no matter how you draw the trend line, 23 - 24 level is key).  The time to really hit the gas is when price busts the resistance at 29.5.  Big selling happening at that level ever since FY results announcement on 10 Aug.  When that's over it's onwards and upwards.