Massive Breakout Alert, page-151

Someone insightfully said all this 'massive breakout alert' needs is a massive breakout!

Well that's not happened obviously, despite all the progressively good announcements over many months, the SP has declined back into the 'fair value' range between .15 and .21 as defined in the chart.

I think what we have seen here is a classic example of an SP that got WAY ahead of itself spiking to .44 mid-May and then slowly but surely reality sets in and apart from the occasional moment of euphoria, the SP gradually comes back to a collective realisation of value vs risk.

Regardless of how it comes back though, like todays close which as bogus as it looks (a close at .17 on f'all volume in the last minute after market), this SP has come down to a place where serious sophisticated and informed buyers will re-emerge and take it higher.

Before then, it seems we will see a battle over the weak-ish rising trend line from Aug25 to Oct19 (around .177). A breach of that to the down-side and we're into testing the 100% retrace of the spike rise from May 1 at .15.

Brace yourself CL8 believers and holders, another two-clicks lower is quite possible, perhaps probable, tomorrow - who knows, but it looks like a decent bottom, at which stage the smart money will mobilise as best they can to the long side.

Painful as it may appear, or be.

BAA