Lots of nice Bullish Reversal patterns on the chart coming up at once, really good thing, just requires patience to let the formations play out.
Have the Double Bottom where it bounced off 2.9c support level, this is a strong reversal pattern in charting and it reversed up since.
Continues to make Higher Lows with volume decreasing, also a good sign and indicates selling pressure subsiding and being accumulated and soaked at these levels.
MACD is trending up and almost ready to cross here, the oversold area is where it bounced off 2.9c which would have been the better but to some too risky entry at 2.9-3.1. Once this crosses over and up this will be the buy signal to others that they are waiting for.
A Diamond Bottom has also formed which is also a strong reversal pattern when found at the bottom of a downtrend, this is also really good.
There's also a Symmetrical Triangle formation (halve the diamond) which is also a very bullish pattern.
What those who don't understand charts have to understand is patterns take time to play out, just because there's a bullish pattern formed doesn't mean it's going sky high right this minute or tomorrow, sometimes it does with the right patterns. For now things are just getting set and with Drilling to start things should start picking up soon enough.
3.2c continues to be a strong support base and making of those higher lows, but too many traders here seeing similar patterns but expecting immediate breakouts are selling off. Great chance to pick up some cheap shares in my view.
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