Its a capitulation playing out - fully factored this in yest as...

Its a capitulation playing out - fully factored this in yest as a possiblity but thought there was a low chance without a decent bounce first given sufficient space between price at the time and the down sloping short term moving average where it's been hugging and most shorting off from. Either way, a lower low capitulation (you want that ugly looking candle) offers more predictabily for a bounce after the series of smaller stair-wise falls. Strength of bounce will be the all important factor - whether it can run back, consolidate and break those ema's forcing shorts to cover or whether it's more sideways action and then a lower drift. With the annual report not far away, you just know all eyes are on this for a cheap entry and the good folks at norges may just try and run it up prior to it's release.