Asxstocktrader alerted me to this stock from a scan he did today, so I dont hold the stock but i do like the charts and might look at some soon. I also know nothing fundamentally about the stock but will suss that out for my own research in time
Monthly
As you can see the period leading to 06 breakout was from a period of consolidation which is now happening again, the only difference this time is the indicators are much more friendly
Weekly
As you can see on the weekly i have zoomed in with the green box to show the consolidation and clearly shows accumulation at the base line of 165ish. The stochastics are looking good and you have a break up of the recent down trend line which i forgot to place on chart. Repeating Ranges are a guide but given the low risk entry its worth a look
Daily
EMA's on the daily show that price is above the 41 and any further advances will see the pink cross the black which would then add weight to the weekly chart. You could argue the daily stochastics are becoming overbought so then I would look to buy in 1/3 positions to gain a good entry and maybe take advantage of any weakness while the risk levels are minimal. I have shown smaller angles with smaller targets. I believe the volume spike today was of significance and might be explained by asxstocktrader for you
Anyway worth watching and do like what might become of it
Regards
Rob
