Ok, so where next? As predicted a couple of weeks ago we have...

Ok, so where next? As predicted a couple of weeks ago we have closed today @54 however the charts are not looking good. All indicators extremely bearish. RSI dropped below 40, MACD on a steep curve down, oversold hovering below 20 for over a month, big reversal on ?Twigs trend reversal etc etc, BUT the big indicator is the crossing below the 200 day MA. AND the last time this happened was 14 May 2021 which then prompted a sharp fall back to 17.5c with recovery commencing end of June 2021. So technically No positive indicators.
LETS HOPE NOT but according to the chart below we could see a drop to 50c and hope to stabilise a bottom there but if that fails could see a drop as far a 31c. In any case, as I said in an earlier post, going to use my reserve to top up at these stupid prices. We do need some good news to inspire a reversal! DYOR.