Yes I agree we are still in downtrend, though you can argue that both ways - breaking the 37 low would be continuation of downtrend, ergo for now we actually don't know until it breaks (charts are so easy in 2020 hindsight). Chart wise, we've actually broken above the historical upper trend line, which seems weird, and maybe reflects the grey area we are in. Combined with the flattening lower lows, it certainly seems like any downtrend is slowing, but for how much longer we simply don't know.
I've always said here only strategic partner news will reverse our trend. There has been overwhelmingly good news flow for the sector, but this hasn't shifted sentiment... yet, so I am not holding out on that. I guess there is a outside chance that sector news is so so so bullish, the tide reverses for all boats and not just the good ship Ardea. But given the slew of bullish news from Tesla/Toyota/VW/EU/Nickel/the list goes on, its hard to image just how bullish the news would have to be to have that affect.
IMHO there simply is not enough public domain info on the gold spin off to know if it will have an impact. I think that is self evident by the way the SP has reacted to news about this. Until we see IPO documents and details of what JORC may be there etc, we just don't know.
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