Back to the topic of this thread. If this is a textbook cup and handle, then by my reading, a target of 18.5c is achievable. There's 6.5c between the 5.5c floor of the cup and the 12c top. Adding 6.5c to 12c gives a breakout target of 18.5c.
We touched 14c yesterday and have since discarded a lot of profit takers so the next run should meet less resistance. With each passing day we are closer to the maiden JORC which had the effect of doubling the share price of a few of our peers (see SO4 in February).
Buyers will start getting set for the resource estimate in the coming days and weeks so those selling now are risking missing out on bigger gains.
APC Price at posting:
11.5¢ Sentiment: Buy Disclosure: Held
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