A week down the track and folks can now see what I was explaining. When there is a strong re-rate on any stock, if using bollie bands then when the lower bollie reverses to head north the SP never rises (note I didn't say that the SP falls as some like to mis-interpret). As mentioned a sideways trend continues until the bands re-set.
Yep, I paid the price for calling it too early in the blue circle, should have waited for confirmation.
Now you're looking for the next trend to begin so you don't want to see the SP trade below that while bollie median line or the trend turns bearish and it appears that MACD is indicating weakness with a negative crossing.
If the company would like to come out with news now would be a really good time technically otherwise it could get pretty sad.
Hourly chart is already printing a bearish trend but can turn quickly.
Interesting that VWAP was right on the biggest volume of the day.
Cheers
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