Ann: Panorama March 2016 Quarter Review-PSY.AX, page-108

Wave

The breakdown of the yearly low of 9.5c was definitely a concern from a TA perspective, but it was the lack of volume that encouraged me to buy, what is now the bulk of my holdings,mat 9.1c.

And I agree that it is still in a downtrend, but don't feel that 25c needs to be achieved before considering it broken.

In fact, I love when TA patterns that should have played out as per the textbook (breach 9.5c...trigger stop losses....hit new lows....etc,etc) break down. In this case, if the 10-10.5c mark can now hold and consolidate on a bit of volume, it could prove extremely bullish.

Hope the rambling makes sense.

Milesy