Chart, page-42

  1. 16,367 Posts.
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    Sure.
    Yesterday i was looking at the inverted Head and Shoulder (actually it is a head with 2 shoulders either side) beginning around Nov 15 and thinking that if it worked out, it would break the price though that 0.057c resistance level that we probably can all see. It's only a shallow pattern so the price target was around 5.8c+.
    But there are other indications that a breakout above 5.7c can lead to an uptrend now. A few are:

    squeezed bollinger bands about to open up
    positive divergence in OBV indicator about to trend up
    MACD bullish and trending towards positive territory


    https://hotcopper.com.au/data/attachments/3922/3922565-2ba9351612bd7bc546c37bb8b820ad48.jpg

    On the longer scale, the trading over the past 2 months could be a "pullback" phase before the chart returns to it's original trajectory. This can happen when a pattern is gearing to break in a certain direction but other forces push it the wrong way. The fundamental drivers eventually return and the chart can complete it's pattern target, which in this case looked like a bullish break to above the 12c area (based on the triangle height in January)


    https://hotcopper.com.au/data/attachments/3922/3922585-18565ad91151e2698744b9a65be383bc.jpg


 
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CDX (ASX) Chart
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