I'm trying to ignore my positive bias here and I've revisited this chart at different times of the day and when I'm in different moods and I keep coming to the same conclusion.
This is what I'm seeing:
1. The breakdown is on modest volume
2. Sector fundamentals are still intact
3. Seasonality is in our favor
4. Retracement is still shallow compared to the uptrend.
5. I'm not seeing climatic qualities (euphoria) suggesting a top
6. July peak was slightly higher than December peak (I've learned this lesson before with PPS, a bullish signal when key resistance is overrun)
7. Forget the upward trend channel for a moment, are we creating an accumulation range 67-90c??
Any technical people out there that would like to share their views?
Cheers
OVH Price at posting:
74.0¢ Sentiment: Buy Disclosure: Held