That makes sense , if you consider the runs over time to be in the 20 to 25% range then yes that is a reasonable assumption.
If the market pulls a couple of green days and we bounce the 61.8% fib then I see no real resistance , except for the psycological barriers .35, .40 ect.
We are in relatively uncharted water and I believe it is very difficult to predict with too much accuracy.So my question was merely based on what reasoning to derive a price.
Not knowing anything about fundamentals , I am sure there are things like hedges, NTA, Dollar values all contributing to the price but all I can do is work on what the charts say, and at present I am following a chart and trying to decipher where it will go !!
We are somewhat overbought, but in saying that everything else is showing positive signs for us, so we still may have more in the tank.
DYOR, If you think I know what I am talking about then you deserve what you get . !!!
CER Price at posting:
32.0¢ Sentiment: LT Buy Disclosure: Held
