This Bollinger Band pattern is a classic Bolly squeeze.It signals a dramatic break-up or break-down coming soon when the share price leaps or falls out of the narrow band.
I don’t think anyone would expect the breakout to be downwards, so when it happens, we can expect to see the share price at 35 - 40 cents.
Bolly Band breakouts are explosive, leaving no time to buy at the beginning.
The trigger may be the Mineral Resource Update, now less than a month away, or the increased attraction of institutional investors to the compelling Rox story.
This is an accumulation phase dominated by instos, with some significant trades today, such as $100K and $ 50 K, etc.
There was increased volume today, accompanied by a share price improvement which is a bullish signal but until there is a break-out of the band, it's not definitive.
The course of sales shows how controlled the share price is, with a lot of CXXT and non-marketable parcel trades.
The instos are accumulating and, as always, our retail opportunity is to follow.
(20min delay)