Madmacs, it is "funnymentals" driving it - drives many, many stocks. Companies that can grow earnings 30% plus compounding year on year rarely go down - retrace yes but the trend normally stays so long as the future looks good - ie no slowdown predicted by them or for their sector.
That chart doesn't look so scary if you take it from January this year and apply a log scale. December last year was when the recovery was flagged as potential, now it is starting to look real.
The earnings outlook will drive it medium and long term and anything might drive it to overbought or oversold in the short term.
The near death experience before the management change has unfortunately plummetted the share price to an extreme low - making any chart analysis without looking at fundamentals not worth a cracker.
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