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We are seeing distribution/accumulation...

Perfectly natural for such a stock at such a time.

Cannot move forward without it...so much better for us to see it play out at "patient buyer" levels rather than on the back of a rally where the distribution would be going to a more impatient and temporary profile.

The former results in gradual and sustainable rises...the latter sees volatility and trading opportunities.

Every time we see such an event, we effectively get a solidification of the new range and subsequent confirmation of support.

it is this confirmation that attracts the more conservative investors into the mix...and on the back of them, the momentum traders whi will buy on the break and push it to a new level where it all starts over again.

All things being equal, this repetetive process can continue for weeks if not months.

Smiling here.

Cheers!