Charting, page-48

Well we are officially in the break out mode which is technically significant. Buyers have taken control from the recent sellers seen over the last 10 trading days. Another new closing high.  Prices currently residing at 104weeks high which is very bullish.

The top pennant/flag line has been breached on volume today with todays VWAP being 3.75c. As this is only the initial move in this breakout I expect significant volume to kick in tomorrow.

1. Relative to volume depicted below. This is higher than current trading volume in point 2 indicating the real volume has not started.

2. Current volume is relatively small compared to recent volume in Point 1. I would expect higher volume tomorrow and we will see a large range move to the next basing level.

The tight register and the current technical setup part of the 3rd wave, could see this measured move significantly to 6.4c with an intermediate pause in between for the moving averages to catch up.

This does not take into account a fundamental announcement to the ASX. 50M+ volume day could possibly see a 80% move in a day however would require a trigger event such as a big market announcement.