Perhaps. Good pattern pick, but if you notice, it actually bounces off those down trend lines each time it hits one and then climbs. On that pattern you would expect it to bounce now. What actually caught my attention was that it didn't collapse once 1.11 was broken, but recovered quickly. Not what I expected at all. After this big a fall it is starting to get into the stubborn holders zone which means they will need a lot more shares for smaller falls. Over the last three days it has been circa 10m each day - first day was 20c fall (or 30 if taken from peak), second was 11c fall and today is about a 5c fall. If the trend continues with the same resistance another 10m shares will give only a 2,5c fall. It could be starting to get too expensive to drop it further.
GXY Price at posting:
$1.12 Sentiment: Buy Disclosure: Held
