Selmax channels are certainly open to interpretation so there is really no right or wrong, but I just cant justify a channel in IPL during it's ascent. It looks to me just like a large broadening formation with converging support coming at around the $2.45 area. You can see the horizontal support there which is the bottom of the gap. The descending blue channel I see.
Heres how I see it and again there is no right and wrong, just a different take on it:
[URL=http://img9.imageshack.us/i/iplm.png/][/URL]
chart for talktome 14th of nov, page-4
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$2.90 |
Change
0.040(1.40%) |
Mkt cap ! $5.632B | |||
| Open | High | Low | Value | Volume |
| $2.88 | $2.90 | $2.87 | $11.46M | 3.964M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 4828 | $2.89 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $2.90 | 22613 | 2 |
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| IPL (ASX) Chart |