Charts are not terribly helpful with small specs, however typically on a longer timeframe it paints a picture. This is a
very quick TA.
This is approx 18 months worth of info, on a weekly timeframe:
- Firstly is conforming nicely to a downward wedge, with various tests of the downward resistance over this timeframe.
- Secondly - it appears to have double-bottomed out during Dec 2024; and also in March 2025. Subsequently it now appears to be forming higher lows, and conforming with early stage uptrend, first test was circa May 2025.
- Almost looks rhythmic doesn't it? - that is no coincidence. It's algorithmic trading, typically instus.
- I'd expect given we are now starting to pinch (lower highs, higher lows) - we're probably destined for a break to the upside circa late July-mid-Aug. (the yellow box).
- Also note the stochs are in an uptrend.
This is just a patience game. When volume comes into this, there is a good probability it will break to the upside. 70/30.
