Hoping it gets closed today (the 40.5 that is, not the 33.0
), so those who are concerned by such things can rest easy.
And, as you say, that 40.5c is dutifully reinforced exactly by the 61.8 fib retrace.
The RSI is at a nice low number too, which will encourage some.
Here's a chart showing we have not moved a penny in the last 12mths. But of course we have. And in my small mind there is no fundamental reason to believe we are worth $100m less today than we were barely a month ago.
View attachment 1546183I suppose we need to be reminded about the 100m new shares issued half a year ago, that until the last couple of days, were seeing some very tidy gains.
A 6mth ROI like what we saw just might have been irrepressible for some.
A good portion of those who trade a portion of their holdings around TA ebb and flow would be expecting a bounce off 40.5 ('ish), IMO.
