From the Market Watch chart above you can get a short term perspective of the current consolidation and potential slow grind upward towards ~10c as suggested in chippendale's chart (see his post above). It also shows a positive sign with the 20 EMA crossing the 50 EMA, the strength of the RSI above the 50 line and a very positive MACD.
Note: In particular, I have found the 50 EMA dissecting a Bollinger Band (or about to) as a very good indicator of a strong move upward/downward - depending on whether the 50EMA is crossing the BB in a downwards or upwards direction. Especially strong when the BB is glancing the 50 EMA.
2. Another short term chart below, this time courtesy of 'stock2own' http://www.stock2own.com/StockAnalysis/Stock/AU/GRB?w=1440
This chart shows even more clearly strength in all three indicators. I particularly like the MACD signal line's rejection of the slower moving average in early August and the consequent SP serge, which appears to be about to repeat (fingers crossed) and a possible run up to 10+c i.e. a 30% gain from where we currently stand! The RSI was very overbought last week at >80 but has since returned to a more neutral position hovering above 50, awaiting another leg up.
What catches my eye on the indicators below are the positive recent trends - looking strong and positive (but of course they can turn at any time). Performance and Momentum are reassuring along with the very strong Volume initiation in late July with vol of 4+M, echoed by another in early August with 2.5+ vol - so really it's an unfolding positive SP story at this stage, with no immediate black clouds (unless I'm wrong!). So for me it's not time to profit take just yet - I'm hanging strong and letting the trend take its course.
I like the CCI as a binary indicator i.e. when it breaks down from the upper section of the chart it's immediately time to sell, same for the bottom section when buying - if it breaks up buy immediately (just my observations). The Williams and stochastic RSI do a similar job - but with more noise. I look for the least volatile indicator to reduce whipsaw. You can easily backtest by just scrolling up/down a few times to check correlations.
4. Finally, a couple of longer term charts.
This is the weekly chart (intermediate term) covering the last 2 yrs.
Again, the 50 & 100 EMA's crossing the top BB appear to be drawing the SP upwards. Currently looks like a positive test of support at the 50 EMA. Daresay the 20 EMA, not shown, may provide an elevator up - you can tweek yourself lol.
The RSI and MACD are showing positive moves crossing their respective centre lines - albeit the MACD looks a little anaemic (at this stage).
And finally final, the monthly chart over the last 5 years, below.
This holds out hope over the next few months for the SP to move up to the intersection of the 50 EMA and the top BB i.e. ~11c. Understandably the RSI & MACD are not as advanced as on the weekly/daily charts - still has a lot of headroom before it's overbought lol.
All up, my take-away is that there are positive SP prospects over coming months, to first establish consolidation at ~11c, and if followed by positive news out of the coy later this year, then a move up to the mid teens+ is certainly not off the cards.
Please feel free to copy/paste any of these links and play around with other shares from your portfolio. For the chart from barchart just scroll down to the bottom and use the 'Add an Overlay/Indicator' tab to select other indicators.
(20min delay)