Chart Breakaway gap today :), page-199

Its a breakout alright with 43.5c close.
On TA we see the following:-

- breakout of the pennant pattern as posted
- completes the 50 day flatline pattern
- restores/reconnects to the prior interim top floor pattern 43-47
- lowest volume on the way up for months (3M) signals the sellers are defeated & dissipated
- the MACDs RSIs have all continued their reversals and gone positive/green
- broke the ChiX lead (I called earlier ASX would follow ChiX and it did and then beat it)
- another accumulation by way of the gravestone doji close at 41.5c was not the target today, there was just no volume to accumulate at that level anymore so as i called they took it higher
- a confirmation of the historic 2 green bar follow through with a neutral doji friday in combination with todays higher green bar = very bullish
- a confirmation of the prior bullish chart patterns I cited (ie the gravestone doji at interim lows 40c, the shooting stars to 47.5c & the many bullish reversal dragonflies)

Those gravestone dojis on the way down and the dragonflies at interim lows were the giveaway but more importantly going forward its the 3 green bars in 4 trading days & low volume and lack of volume sellers that is a stronger signal to me.

If the resistance by way of larger volume sellers has disappeared then if the massive volume accumulation continues as it has for the last 2 months (130M shares/13% & counting/5M daily volume) then there will be a rerate to the next targets of 52c-70c.
We know this is a target as the brokers called them 6 months ago and the CR were at these point a few years back so should meet some natural resistance around there.

If the volume accumulation continues we may be at 52c quickly. But I called 43-47c to reconnect and it now it may go sideway a few days as they test the sellers resistance and if they are still absent we may see a sharper gapup Ive been calling.