This has been the 5th consecutive week of price growth - that's an all-time high, having beaten the 4-week run during March:
Importantly, this 5th week's trading volume is more stable than the March streak, when volumes tended to fall off rising prices:
Last week also experienced a big spinning top formation. I see two ways of looking at that:
- more selling pressure and resistance - no more weekly rises, and time for a breather
- biggest intraweek rebound shows that more buyers are coming on board
Having said that, daily trading volumes have failed to reach 1 million shares for two days in a row - that's the first time in a month - and after news of the $15 million capital raise. (Maybe some profit taking.)
There are two ways of looking at that:
- Price growth is slowing - time for a breather (just like in April)
- The stock is tightly held - holders know they're onto something good, and won't be selling
Moving from charts to maps, here's the NBN rollout across Melbourne; purple areas have NBN available now, and brown areas should get it over the coming months. I wonder if UWL is blitzing the areas in brown, and beating NBN to the punch:
