good technical trend

I favour fundamentals over technicals. However I do look for some positive technicals for assurance.

ICN has a good short term trend and if we can hold or get through 22.5c today or early next week we should see some higher share prices soon.

10 day moving average has moved through the 30 day moving average.
SP is also moving upwards through the 200 day moving average for the first time in 6-7 weeks.
Volume trend is rising.
Buyers side of the market building over the sellers side.

RJ preaching in London at the moment.

Shale Gas story in Australia gaining traction off a small base.

Someone alluded to a real estate analogy earlier which I think is apt. I'll expand:

Anyone can buy land unimproved or with a dwelling but it is the quality, and location within the location that counts. I could by 4 large sized blocks of land in the Adelaide Northern Suburbs or a more upmarket suburb in Sydney but the capital appreciation or development potential may not be that great if they are behind the Coles shopping cente, walking distance to the tip or conveniently located near the speedway.

Whether it is the Surat Basin, Otway, Bowen or Cooper Basin. When the whips are cracking, acreage for acreage sake will not win the day. It is the better quality positioned tenements within the better areas of the better oil/gas basins that will do the best. Seems to me that with ATP 855P in the Cooper, ICN have a prime property in an quiet upmarket inner city suburb, parkland nearby, sea views, walking distance to trendy cafes and pubs. Close to all modern lifestyle amentities. Of course the State Government and Council are also tipping in tens of millions of dollars over the next 12 months as part the 2013 Modernisation and Reguvination plan. This will lift house and land prices even further.

Can't wait for auction day!!