Hi all, and welcome to December. This is a quick follow-on from...

Hi all, and welcome to December. This is a quick follow-on from November post (https://hotcopper.com.au/threads/general-thoughts.7495348/page-1641?post_id=70664104) with some November broker data + technical analysis (so you can see the charting progression, and how it ties into fundamental catalysts).

Month of November (01NOV > 30NOV) Broker data:
- November there was quite a bit of churn at the 0.015 line (which appears we have now broken above, which is nice).
- Bulk of selling funnily enough this month Finex and Commonwealth (..retail) - and guess who's buying again - Euroz.
- Volume starting to pickup towards the end of this month.

Technical Analysis: (continued from post here in Nov:https://shorturl.at/ioJR2).
- I've analyzed this data over weekly timeframe - (which helps to the ignore noise).
- Can comfortably say we saw a capitulation pattern occur with a low of 0.012 in second week of OCT. Since then we've seen a reversal.
- 3 triangular patterns over weekly timeframe are playing out near perfectly (almost too perfectly...thanks algos).
- Oscillator indicates we've largely hit the bottom of the mid term down trend, and momentum is slowly returning to the upside (which is backed up by the last 3 weeks of green candles).
- MACD - this is looking great, signal line is now starting to move up, into what could be a textbook 'golden cross' (which is a buy signal). It could also get rejected, but this would only be over the short term (IMO) - unless something changes.
- Stochs - you can see we've bottomed out over the weekly timeframe about 3-4 weeks ago, and since then have started to turn around, and on the way back up. It's important to refer to the other times that the stochs have bottomed, and generally what happens next (similar with the top).

My quick observations: - it's looking in good shape. The month on month TA is demonstrating predictability over the timeframes, and good to see Euroz buying again. You can clearly see in the last two weeks we've pushed up and broken formation of the downward triangle to the upside (which is good) - but i'm not personally convinced we've been 'basing' for long enough (just me). ie, there is still a chance we break down to 0.013-0.014 levels (which if happens, and nothing fundamentally has changed, is a massive BUY signal). We've got some fairly major fundamental catalysts coming up too (within weeks for seismic data), which could be playing a role in this early break to the upside.

Fundamentally - I think most of us are abreast of:
- The activity occurring in the region (the basin is 'hot property' - and major investment is occurring).
- As per webinar recently, everything is moving in the right direction - the boxes are being checked.
- Woodside obviously doing it's due diligence, and also getting involved in the region by sponsoring energy conference.
- Nambia is very supportive, and PCL have great relations with the people that matter.
- 'Cool Factor' - it's not often you get such a little explorer, that finds itself in the hottest offshore exploration location in the world! C'mon, that's cool!

Overall, this is looking strong. Bullish, and patient over the longer term. Enjoy the journey, it's very exciting times ahead I suspect.