'56 ... "old bean"
(You might not like what I think.)
Big picture - it's had its' five cycle wave and we're now between cycles deciding whether it's going to make a U or a V. If a U, the support at 17 (or maybe as low as 16) should hold but if a V, a measured move would be 13.5c.
Very good support at 17c - so far.
On the chart below ... you can see points A,B and C ... all spikey candlesticks after a period of lower SPs and falling volume - so the exact candlestick was due around here. Spikey top after consolidating on support with volume diminishing.
So when it opened at 17/17.2/17.5 with near no buyers or sellers at 17.5 and volume struggling at under 1m after an hour of trading I thought today could be the day. A 900k buy at 17.5 took out 600+k sellers (plus a few more over 3-5 minutes) then triggered further buying to 19.5. So a sell at 19c stopped the buying and it consolidated back at 18.5.
There is no news, no leaks ... it's just like a sprint lineup and someone broke early to encourage the others to do so also.(A mini-FOMO)
Depending on the US it should now consolidate back to 17c and depending on time and news, either decide to hang around 17c and make a U or go lower for a V.
(If more/significant patent news comes out ... well all bets are off.)
