Looking at the chart.. Stat indicates a bottom has begun to form. The short view is down however the easter break means some would have cashed out for the break. The view I have is that TUESDAY will confirm this change.
IMO .. .there should more selling for a further 2-3 days maybe down further .. Overall the TREND is shaping for a rebound....Not just yet.
Also of note:
This whole process is across the majority of these stocks and is. I have noticed this charting pattern over many.
You could easily overlay these.
Industry pattern for these "penny dreadful's",
Some broker firms have been touting investing in these type of stocks since the mids and heavies have been tracking sideways.
Therefore many DT's have been chasing these up over the past 2 months.
Need to be more chart orientated and less focussed on "media, announcements. and gossip"
Hope this helps
I do not hold OBL... But do hold similar.
OBL Price at posting:
6.4¢ Sentiment: None Disclosure: Not Held
