ANO chart

I've been holding ANO since June 2015 (entered at 3.1 c) and have been steadily adding to my position since then. Thanks to the regulars on this page for all your insights - I greatly appreciate them.

There haven't been many comments here on the chart - that I've seen anyway - so I'll throw in my 2 cents worth. It's a long term perspective - and based on logarithmic scale chart:

1) ANO traded in a well-defined downtrend channel from 2005 to 2014, taking the share price from 23c to below 1c.

2) Then, after a 3 year basing formation (2012-2014), in September 2014 ANO broke to the topside from this channel. This channel break was very bullish imo, strongly suggesting that a substantial bottom was in place at 0.8c. For the next 10 months ANO climbed upwards, reaching a peak of 4.4c.

3) Following that peak of 4.4c in July 2015, ANO drifted down in a well-defined (and bullish) Flag formation. [In a Flag formation, the share price moves against the prevailing trend but usually breaks out in the direction of the prevailing trend, ie. in ANO's case, upwards.]

4) This month (January 2017) ANO broke to the topside from this bullish Flag formation.

Conclusion: ANO's chart is unambiguously bullish. The top of the Flag (between 2.6c and 2.8c) should now act as support on any dips - representing a sound buying opportunity if ANO dips that far. Only a daily close below 2.5c would raise doubt about the bullish outlook.