The linear regression chart with the 73c. high on 15/09/20 to the 5.2c. low on 30/06/22, generated an up side CHANNEL RANGE of 40.5c. (40.4c. to be exact).
A channel range high of 50c. and low of 9.6c.
From 30/06/22, trend lines and KEY, UP SIDE support/resistance levels are forward looking (extrapolated), PREDICTIVE in nature......and generally MULTIPLES of that 40.5c. range.....including range mid points (rmp).
A subtle, but not insignificant, CLOSE (again) today @ 9.5c.
Consistent CLOSING PRICES above that 9.6c. level would be an indication to expect further up side.....with an (interim) TP of 20c.
Cheers.
Chart thread, page-522
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