Looking very solid today!16m Volume so far or $510,000*Soaking...

Looking very solid today!

16m Volume so far or $510,000*

Soaking very nicely at 3.1c to 3.2c

As I said yesterday, sellers are gone after the last high at 3.7c
and demand has clearly shown there are buyers who see value in DRE otherwise the share price would be back down around 2c and that is far from the case here.

I've been in too many stocks to know when another parabolic move is setting up and if it didn't get sold off after that rise up, it's not going to now, rather the Chart, together with fundamentals is saying it's going much higher in the shorter time frame.

Daily Chart Analysis:

Bullish Pennant Flag formed, which is a continuation pattern usually followed by a breakout.

Based on the Pennant Flag pole a price target of 4.5c share price is on the cards in the short term for the next wave up.

Candles are sitting nicely on the MA and EMA lines which is a positive signal, as you don't want to see them pull too far away for too long on a stock, it's a bit of a push and pull affect. So it's good to see it consolidating and bouncing off 3c support.

MACD turning back up; my signals are tighter so I see the moves come sooner; the previous cross down was a sell signal but only on the short term.

Now positively the MACD is turning up, in conjunction with price moving up, low volume has indicated an exhaustion of sellers and buyers are having to pay up.

Weekly Chart looks even better, I'll post that a bit later.




Links to my Previous Chart posts of each wave and breakout:

2.8c Breakout to 3.7c
https://hotcopper.com.au/posts/47852915/single

Post Breakout to 3c; Consolidation Analysis
https://hotcopper.com.au/posts/47627233/single

Breakout from 2.1c Target of 2.9c - Resulted in 3c
https://hotcopper.com.au/posts/47541708/single

Weekly Chart - 2c Breakout to 2.9c Target
https://hotcopper.com.au/posts/47486399/single

Daily Chart - 2c Breakout to 2.9c Target
https://hotcopper.com.au/posts/47488597/single

Weekly Chart Pre-Breakout Target 2.9c
https://hotcopper.com.au/posts/47430835/single

Daily Chart 1.7c targeting 2.9c Breakout
https://hotcopper.com.au/posts/47368616/single
https://hotcopper.com.au/posts/47296088/single

My First Chart post for DRE after my time away from HC - 1.5c
https://hotcopper.com.au/posts/47144464/single