Nice chart and good to see a straightforward appraisal.However ....

Nice chart and good to see a straightforward appraisal.

However . . .

I think this chart is owned by the machines. Look at the fibs (they are telling!) using peak at 24.50, and bottom at 19.15. You get retracements of about 21.20, 21.80 and 22.50 (wow - the cap raise price!). So amazing that the SP has been hovering at these levels the last two days (look at a 15 or 30 min chart)!

I think TPTB want to suggest a retracement to $22.50. The fade to about 19.15 Wed fortnight ago was too contrived to be believed IMO.

However I'm not sure of my interpretation - but want to float one suggestion. If TPTB can get (or could have got) the retracement to go through 22.50 - they'll really short it from there and make fantastic money, as many shorts will cover, and those who took up the cap raise will sell and be relieved after a wild ride.

If they cannot get it there, they'll possibly be shorting/selling at one of the other two points. and be satisfied with that. Either way - signal is clear to the other machines and the herd will stampede with clear fib turning points in mind. It depends a bit on what the markets do.

It is illegal to manipulate the market. However vague signals??? There is never any way you can be certain!

There's no predicting the future - but just like dogs mark their territory - this stock appears to be marked as one that has retraced, and will go back to downtrend IMO.