I don't think it is an ascending triangle.It clearly isn't but...

I don't think it is an ascending triangle.
It clearly isn't but it isn't a descending triangle either.

Pretty much bang in the middle.
However, the overall trend is intact and pointing up.

To be able to make a placement at 26c and then absorb another 16m shares traded since tells me the likelihood is that this stock is going up, not down.

The trajectory of the fundamentals is also up, not down.

IMO the market is waiting for confirmation - technical and fundamental....I just happen to think it is more likely to be something positive than negative.

+connectivity in the USA
+more DCB agreements?
+more advertising contracts?
+coporate activity?

It is a growing market segment so the chances of contracting revenue are highly unlikely.

It is a scalable business and the company has already stated they have the cost base in place to take advantage of further revenue (though the connectivity issue in the USA might take further investment?).

So that's why when I look at the chart, which is evenly poised, though with the uptrend intact, I think the chances of an upswing are greater than a further drop in the SP.

There's no certainty and the macro environment might do us all in, but that's how I am reading it.