The weekly and monthly chart are both showing signs a big rally might not be far away.The rally in 2020 is the only other time the monthly MACD crossed over. That led to a 10x, rally to .076c.
The weekly chart shows the MACD crossed back in July 2022 around James Brennan's appointment and has been rising ever since. The damage done by Bergen is reflected in all the indicators on both charts now heading up without any SP movement.
A normal change to the upside can be seen in 2020 Monthly chart, thin black vert line is Money Flow low, yellow is SP low and thick black vert line is the MACD cross. That took 14 months. With the Bergen buyout the M Flow low, SP low and MACD cross happened over the last 4 weeks. Very unusual for this to happen.
While I understand sentiment is poor the underlying chart is actually showing some very positive signs.
Once the wider market sees that James Brennan has turned this company around I expect a similar run to 2020 and believe it could be spectacular. A similar 10x would see between 3 and 4c.![]()
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