Are we close to seeing some significant news? The charts tend to...

Are we close to seeing some significant news?

The charts tend to suggest so, with the price action being wound up like a tight spring at the moment. Interesting to see today the short term (15 & 30 day) moving averages now converging, which tends to see a share price move play out. It would certainly be positive to see the price action continue north in the short term back to test the 200 day MA at $0.705, as opposed to capitulate and start a new trend lower.

Having a quick look at the charts, the daily setup is encouraging with the stochastics trending positive, along with the RSI ticking up once more. A break through the 200 day MA at $0.705 should see the MACD cross back over and trend positive once more. Plenty of room to move before signals are 'over bought'. Does this convergence of moving averages signal the end to a pennant formation with a measured move to take the price through to the 90c region?