The trend has formed a symmetrical triangle pattern (Coil pattern) which is considered a continuation pattern. The long term trend is ascending/increasing trend and as we are getting to the pointy end of the triangle we should see a breakout on the next good news. New 52 week highs are likely once we break the triangles upper line.
MACD is pretty tight the last month and supports being at the pointy end of the coiling pattern. MACD is slightly green and looking a little bullish ready to bounce.
If you want to do some reading on symmetrical trends click here
Ann: Drilling Update - Mt Cobalt & Pembroke, page-1476
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