@$tockfella hey mate, i'm happy to give you a brief overview. As of friday we broke out of an ascending triangle formation & inverted head and shoulders. Both formations suggest that buyers were overcoming sellers but there was a clear resistance point of roughly 44c. A push through this price on volume suggests buyers were happy to pay up to secure shares. Yesterdays candle shows we 'tested' the breakout level and buyers overcame sellers to close on days high. All current signals are very bullish including the 2 formations and yesterdays candle. Once we push through 50c, there is no resistance which means there is noone that has bought at these levels and is 'stuck' in the stock with a loss.
Cheers sinz
GMV Price at posting:
48.5¢ Sentiment: Buy Disclosure: Held
