Ann: Re- Takeovers Panel - Media Release, page-21

Please excuse the notes on my chart as I haven't archived it yet and like to leave relevant info on them for future review.

This is a pretty standard breakout trade as far as I'm concerned. Pleasant to come back to my screen EOD and note the large move.

Good relative volume signature with preceding price action being very orderly. Doesn't mean it's going to rip but it's an active trade so manage accordingly. There aren't many of of these setups around - typically that can mean we're in a consolidating bigger picture.




I don't really work with forward projections and price targets, but the left side liquidity (trapped holders) is quite far away and if there is genuine demand it should move unimpeded. People who like Fibonacci projections will look at .58 and .65 as areas to take profits, which essentially lead to a self fulfilling prophecy I think.



Hopefully it turns into a bit of a ride.