Bot Chart, page-13751

The below chart could be added to a technical analysis book.
- Nice pattern,
- Volume dropoff
- Break
- Large daily volume breaking the reducing volume pattern
Hard to predict where this heads now, fomo strength seems to have kicked in. Volume buys were seen the entire day right up until close and finishing on the high, the hourly below shows volume quite consistent throughout the day which tells me the buying isnt done yet, and it tells me whoever is buying didnt mind buying higher - meaning they also agree this move is not finished.



Another key point is the Biotech ETF also breaking out on the weekly with strong volume. This is the best the health sector has looked in years and BOT is positioned to capture alot of this tailwind.

40c is the next line of resistance, so lets see how it plays out there. The move is still young and I'm not one to make predictions this early. However I will highlight the below points which could take this alot higher in the next two weeks alone,

- US lead in looks good over the weekend, like it or not, trump is good for the markets and todays events has seemed to lock in his place as president in the near future, thats what the polls are saying anyway!
- ETF on the move with volume - if you filter over 300m market cap and price % moves from high to low I think 4 out of the top 6 on friday were biotechs. Its the hot sector right now and where the smart money will be playing.
- Bot technical breakout from high probability pattern
- Bot volume
- Bot Finishing on high of day
- ASX XJO breaking out - this is a big one
- Possible announcement - just a guess here but a few of you have made good points on a progress announcements / tech side

Id like to see tomorrows candle play out like $CU6 did on friday (Lots of similarities in the chart). Heres to hoping.
Will touch base again when theres more to share

Jake Dauncey