Chart, page-118

The pattern was broken - what next?
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Yes WC8 lost 1.5c to finish at 77.5c. Our volume was similar to last few days, just around 26m shares traded. So the volume was consistent and good, but SP could not hold and slid a bit.

A topsy-turvy day with a high of 89 and low of 76. Usually when it comes back from lows, it has at least one run, but today it looked like the big traders took advantage of Friday and took to pub early. So it was left for retail to fight for the scraps - and we did what we are good at, played with weak hands. Also Friday afternoon traders may have wanted to close their position - that also may have had some affect. Besides profit taking, which may have slowed the reversal.

Last couple of days I mentioned that when we get over 3 green, we could go up to 8 trading days without a red. We had 5 greens and now a red. So that pattern has not played out for now. For me, who usually likes to see patterns etc, at this stage its in a slight uncertain state.

I know many must be disappointed to see a finish like this after reaching 89. For me, it was also that 8 trading day pattern got broken. But are there any positives to take?

I still feel it was not bad due to these reasons:

• Volume was still very good and same as last few days
• Although we dropped, it was not much, 1.5c
• Last week we finished at 46c, today at 77.5 - so from a weekly perspective we did quite well
• We had a very big rise in last 5 days - so its inevitable some profit taking will take place, which could lead to some consolidation
• Although we finished at 77.5, our VWAP average was 82c - so lot of buying at high volumes and most sells on much lower volumes - which bodes well that many now hold at higher price and may not sell on a short rise

So what may happen next week? Can we do another one like this week? Possible, but it may need an announcement. Or someone very hungry. Or someone who likes to have a play here and is ready to step up. Monday will be interesting. We had a red after sometime. But there are many red days in the history of WC8 and it has bounced well. Will that happen again? Lets hope so. Enjoy your weekend and all the best.