1) More than likely we'll see a retrace first before we get that continued northern movement.
2) Worst scenario, we break south out of the Pennant and re-enter the consolodation area. That makes this present move a false break. Not altogether a bad thing if you're a long term holder. As a false break most of the time leads to a confirmed break further down the line.
We ended up getting 1+2. I'd say this has further to go now with sideways trading. The pattern I have at present should be changed to a symmetrical triangle at this stage. Interesting how the bears never allowed it back into the Pennant on Friday. Charting in hindsight is wonderful. Real time charting constantly needs to be updated and re-evaluated as price progresses.
0.059 - 0.075 very nice move on a short term trade. For the long termers original analysis still stands. So don't be surprised to see it run sideways for a bit. Gives an opportunity to trade it. imo. And I'm not a licensed advisor so anything I say should not be taken as investment advice.
MTH Price at posting:
6.9¢ Sentiment: None Disclosure: Not Held
