CMM 0.68% $5.80 capricorn metals ltd

CMM CHART, page-290

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    So the reversal occurred at $3.91 allowing me to chart our next bull pennant (Black and blue lines).
    Coincidentally that low back tested the break out of last years bull pennant (Dotted lines) at $3.95 (Green vertical line).
    That break out saw us move from $3.95 on 9/11/22 up to $5.22 on the 10/1/23.
    $5.22 is the current closing top and we have since charted two cycles of higher lows and lower highs to form the current pennant.
    Quite a few similarities to that last break out exist now including RSI same, 200MA > 100MA, and a fresh green histogram entering positive on MACD.
    Short interest is higher now than last breakout but appears to be turning downward and is lower than the peak from Sep 22 ($2.50 low).
    I won't say targets or expectations, but I will say that I believe we will break out of the pennant before December to the upside.
    I hope all the dads out there had a good weekend.
    Thanks CMM - my best stock by a country mile.

    https://hotcopper.com.au/data/attachments/5561/5561630-6a677b7e9d4ea17a1c0dd5ee0653fc9a.jpg

 
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