Breakout Chart, page-74

I was looking at that volume on the monthly today too. Don't forget though, that there are a lot more shares on issue now than there were a couple of years ago.

The chart is not giving us much direction at the moment. A few observations:

• $0.041 looks to be a strong support line. $0.049 appears to be providing resistance for the time being.
• I'm predicting we will never see the share price get back to the double bottom of $0.034 (29 Jan, 5 Feb) again.
• There was a bullish breakout gap at the open on 22 Feb (yellow circle) on good volume.
• Over the next couple of days volume grew but a lot of punters cashed in their chips between $0.047 and $0.053 on 25 Feb (yellow arrow).
• Although the share price has consolidated between $0.041 and $0.049 in the past couple of weeks, its been creeping up again on falling volume. Is someone trying to accumulate without pushing the price over $0.05?
• I'm more inclined to think that a breakout on volume is more likely to be to the upside.
• The copper bull market is having a pause around US$4/lb.
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