What a magnificent rally - is there more in the tank?.Another...

What a magnificent rally - is there more in the tank?
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Another good day in office. The rally which started 4 days back from 43c continued in earnest. We gained another 7.5c to move from 67c to 74.5c. Our volume was good, similar to yesterday, around 25m shares traded.

So very good gains last 4 days, a move from 43c to a intra-day high of 77c. Many must be thinking - can this continue like this, or will there be a breather? Difficult to say. Today was an interesting day - just from a pattern perspective.

Many times WC8 usually does 3 greens in a row and then red. Before today we had done 3 greens. So I was watching intently. But with the start we had, there was no chance we would have finished in red. So we overcame the 3 green hump. So what happens when we do more than 3 greens (or no reds)? Twice this year we have done 8 day streaks without reds. We have now had 4 days. Can we do another 4 without red? Of course, this is just a pattern, does not have to follow, I like following trading/SP patterns hence mentioned here.

Personally it has been good for me as would have been for most holders. As I mention few weeks back, I had played it 3 times earlier but had cashed out. This time it was for keeps. I was under water for a number of days as had only started buying in early 40s in this phase. A trip to 33.5 did test my resolve, but as I wrote that day I bought the dips heavily - luckily it played out well. There were many who were not optimistic - posters on fundamentals, charts etc. But as I had been writing, I had a feeling something is on, so the hunch was lucky. I did my first bag, which may look like a pauper for many here doing 25 bags etc - but as they say, a win is a win.

So is there more in the tank? Today's test was when it was playing around 72 to 75, trying to hold. It held. Buyers are still there. I had a feeling it would finish at 74.5 - which was 2.5c less than day's high, similar to yesterday 67 finish and 69.5 high. Finish was good. I feel the same people who were accumulating in 40s are still there, may be some new ones as well. So hopefully we should continue - many thinking $1 may be on the cards shortly. Its possible, but as I have always written here, please dyor. All the best.

Anyone interested in my Daily Report around Li sector and general markets, here is the link.

https://hotcopper.com.au/threads/sya-daily-report.7085637/page-6#post-70534855