I gave a description and interpretation of this weekly chart...

I gave a description and interpretation of this weekly chart setup back in November ( Post#70988122 ).

Since then, TLX has continued to move within the well-established trend channel that describes the average annual price growth of +166% achieved over the last 4 years.



Over that 4-year period there are some particularly obvious repeating patterns in both the share price movements and in the associated momentum indicators that could be useful for any current interpretation of the chart.

Drifting of the SP from a high near the channel’s upper limit to form a major low near its rising base has been a common feature in the past.

That drifting trend has been significantly breached this week, suggesting formation of another major low now is in place.

A cyclical pattern of changes in buyer sentiment, as represented by the Stochastic RSI indicator, becomes more apparent by the addition of vertical lines at previous points that would correspond to that indicator’s current position. This also supports the formation of a major share price low.

Positive results from the Pitt-Hopkins and Angleman P2 trials in the near term might be expected to generate another cycle in this repetitive pattern.

For anyone wanting to attempt a prediction of possible future price movements, as a guide, values calculated for the trend channel limits for 30^th June 2024 are $48.52 (max) and $20.24 (min). Limit values calculated for 31^st December 2024 are $79.18 (max) and $33.01 (min).