This is what you call range traded. When there's two points on...

This is what you call range traded. When there's two points on the chart that called support and resistance and the price fluctuates between them. If you pick a few stocks from around the market most a range traded at the moment. This is also known as trading sideways.

The price generally rises on macro or company specific news until it reaches the point of resistance. Then gets sold back down to support. What we're looking for is something to help push the price above resistance. Given the interest rate increases that are pending we'd be looking for higher revenue/profits. Previously we only needed a sniff of good news and prices would run hot. The game has changed in my opinion. It comes down to performance now.

I'd expect a re-rate on growing revenue and a move towards profitability. That will be the catalyst for a push above the current resistance level. When this happens we'll see the price overshoot to the upside as novice investors buy the top and professionals take profit. Then over a period of time impatience will kick in and the price will drop to a new support. From past experiences, the new support will become the past resistance e.g. around the 27c mark. Then the price usually goes back into range trading. The charts will confirm the patterns as they occur.

These kinds of patterns were very common between 2015 and 2018 from memory. This is all in my opinion only and not advice.