That basing pattern took 4 months and included a raising.
Daily chart is now coming out of basing pattern with a first target of 8.4c and following target of 10c. A breather was needed today as it got outside the bollinger bands and needed to close morning gap but should recover in the next couple days I think.
Weekly chart is also coming out of basing pattern chart and has a lot of room to run upward. First target 10c followed by 15c.
Monthly is forming a higher low after a higher high. First target around 15c, followed by just above 30c.
This could all happen rather swifly. Weekly can easily push to 10c within three weeks and 15c within 6 weeks. Then a consolidation pattern around 15-20c before breaking out to 30c.
My view is that 30c will be achieved after annual report and September quarterly in October. By then phosphate prices should have started picking up as well and we should see it moving in the direction of ATH at 60c. There is a possibility that instability and skyrocketing commodity prices will coincide with US elections in November and the aftermath of it.
