Yeah, so I never really saw this as a rising wedge pattern.
I was seeing flags or possibly pennants, in one form or another since the PFS bottom.
I've posted over the last few months a bunch of these little flag/pennant formations all the way up to $0.84.
Clearly we're not in the mood for doing micro flags/pennants anymore.
When I zoom out the first thing i see is this:
View attachment 931399
Again, I see a flag (possibly a pennant)... no wedgies though.
Either way to me it's a period of consolidation and it's looking pretty strong.
As far as some of the daily averages go then they seem to have broken down a touch.
The 15 day moving average was rock solid until the last 2 trading days. Clearly the recent news articles have had an effect on the price over the last few days (that's the same with most Li stocks as well).
View attachment 931402
RSI is no longer Overbought and now sits somewhere in the middle.
Stochastics are about the same... somewhere in the middle of OS and OB.
Our last trading day looks to be a bit like a Hammer formation; similar to what we saw on the 02/01 and 19/01.
Where to from here?
- Depends on how hard the media choose to push their "over supply" nonsense.
- Depends on what kind of progress/news is released by Birimian.
Let's hope we have a good week.
