Well there you go, the third impulse move price target identified in my post back on 15/11 was met pretty quickly. I was waiting with baited breath to see if the wide range high volume bar of 17/11 would turn into the good old pump and dump that we use to see with 4DS not that long ago. But it seems that the tide has well and truly turned. The VSA signal on that bar came up as "Absorption Volume". All of the increased selling on that bar was absorbed with no "dump" in sight. This is a very strong signal. Like the prior Absorption Volume bar from back on 09/09, the only way to interpret this price action is as a re-rate upwards.
Notice how the Close Level (Anchor Zone Close levels) of the prior high volume bars provided either resistance or support levels for the SP. The most recent AZ-Close level is 14.5c as identified and marked on the chart. The ideal scenario would be for the SP to consolidate in the 17c to 14.5c range prior to another break upwards. If the 14.5c level is broken to the downside I wouldn't worry too much provided the SP stays above the 11.5c level, the Low of the Absorption Bar. Just have to wait for the next batch of good news or the next flurry of FOMO based speculative buying to appear. I'm still just waiting for the time when this current price action just looks like a squiggly line at the bottom of the chart. What are the current TO price estimates? 30c to $2? What happened to the original $4 target we were all so excited about a few years ago? What's that old saying - most of the fun is in the journey and not the destination. Speculate as much as you like on the 4DS journey, but reality will hit when the TO or not appears. I'm expecting the chart to give me plenty of warning before the end arrives. In fact I think the warning signals are starting to appear now. As I said, the tide has turned.
Good luck everyone - all IMO.
