Charting PAA, page-10

@kjgOz The chart I put up was from ANZ Share Investing. It is limited, but is ok for basic work.

@SignOfTheTimes yes I agree MACD has entered negative territory which could give a negative slide to things. I should probably adjust my thesis to a slight drop in sp and a likely challenge of the trendline, though my positive bias doesn't want to believe it

In the real word imo this negative weight is due to the flood of option conversions which seem like they will continue (a new notice came out after my post yesterday which showed a further 2mil or so) approx 7mil options to go - so unless we have 7mil worth of buyers lined up we could fall out of the triangle and go crashing through the trendline!

I guess it all depends on how measured the option holders are. If they are smart they will bleed them out such that the SP plods along the increasing trendline over time and they can get a slightly increasing price. If they are even smarter they could pump the crap out of the stock on Monday, trigger the upwards spike and dump into volume (RSI level indicates any upwards move has plenty of room so long as the volume is there) If they are dumb they will step below trendline and the disaster described above could occur. The ball is really in their court.
If the directors are calling the shots I hope they at least have their eye on this trendline (though without a near term need to do a CR they probably should not have their eye on the SP too much either!)
So while the chart is pointing to a bunch of opposing outcomes, it does at least tell us that there is a high chance of a significant move and that the chart is looking 'risky', really I would not be buying any shares until a move in either direction takes place.