DCC has broken out of the 3 month downtrend. There is resistance at 20c when looking at a 1 yr chart, 3 month high is 20.5 so that is the first break needed as follow through.
The real breakout will occur when DCC breaks the 3 yr resistance which is currently at about 22c, perfectionists may give this more accurately.
All of these resistance points are at a very close level and are surrounded by heavy selling volume so it will just take time to churn through. The volume is simply historical holders that got caught at high points - for example 4.4 million on 17/02. Go back further and there are more.
Expect big money to flow into DCC but not instantly and not from Australia. US money will find it's way into this first, the ASX just doesn't get DCC or it's operations - yet.
Chart below
Announcement, page-48
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