a technical view to be considered

Have given it a week and it continues to play out according to plan. I am now of the opinion that from July we have somewhat entered a small yet very sophisticated 'Bullish Pennant' (Possible Wedge). Normally this needs a little more time to play out but there are a few definite features that I can see:

1) Normally occurs out of a 3 to 6 month bullish uptrend off of a low (Low occurred at 17.5c in late November)
2) Uptrend continually meets resistance and support in a neat and tidy fashion.
3) Normally after a spike in volume the pennant begins to form its initial downward leg, this began immediately after the announcement - Good timing in my opinion.
4) There is now a horizontal support line at 32.5c where people continue to find the stock price attractive. Still sitting there patiently, almost got some more today.
5) Support line is slightly (Sometimes) penetrated on an intra-day basis but never on a closing basis.
6) Sellers are becoming more aggressive - Can be seen with the continual and consistent 100k orders being positioned.

Now if we do break it will have to be on good volume but if this does occur the new trading range IMO could be at one of two levels:

1) 40c - 42c, or,
2) 58c - 62c

Have a great night all, have to think about what to do with all this BLY profit - LOL.

Cheerio Nikess.