Further to my last post a clue will be volume declining just prior to the breakout - why is this ? As the sellers are exhausted at 16 cents ( looking more like the specific line of resistance after today ) volume declines as less sellers prepared to sell at 16 cents. However buyers still have not decided if they want to increase thier bids...kind of Mexican stand off if you like and volume drops. A possible trigger for the buyers may be a market update which CBD have already announced will be later in the 1st half....I quote from the 25th Aug market update... ""CBD expects to provide earnings guidance from these developments nearer to completion of the half "" . Sounds like earnings guidance to be released with the AGM releases..late NOV ? Interesting !!
CBD Price at posting:
15.5¢ Sentiment: Buy Disclosure: Held
