A lot of shares purchased between 6.4 and 7.0 during the last run might see some traders settling on getting their money back after the 21% drop from 7.0?
A little traffic on the 6.4 to 7.0 highway might see us go up pip by pip, but hopefully we can move a bit faster on the 7.1 freeway.
A couple of guesses at the run so far 8.6 (Nov2015 peak), 8.7, and 9.7.
Trying to figure out where 9.7 comes from. You could look at the SP moving from 4.2 to 7.0, which was an increase of 2.8. Add 2.8 to 7.0 gives you 9.8. Maybe that's where it comes from? Some calculations of the estimate would be much appreciated please.
Once you get close to that 10 psychological barrier, you occasionally get a crazy run up to 13 or 14, before it plummets back below 10. If you see it grab it, you've got to be real quick.
The annual report was brilliant. This is a real winner.
Have a great weekend.
ALC Price at posting:
6.4¢ Sentiment: Hold Disclosure: Held
