Time for me to jump in with my biannual annual random...

Time for me to jump in with my biannual annual random commentary.


Here's my weekly chart. As you can see we're just poking our head above the resistance that goes back to November 2021.


Now here's the daily. As you can see the selloff in the 2nd half of December took us briefly below the support that goes back to June. But why?


Could it have been a tree-shake?

The big selloff on 16-17th December took us below the support from October (dotted/red line - current support level actually as of 3 days ago). We then spent a week around that level before another selloff took us below the support from June on 28th December. Could these both have been an effort to trigger any stop-losses based on those support levels, and mop up any sales from nervous investors when they were broken?

Who knows? Clearly this would be market manipulation so the ASX would never allow it.

At any rate: if this happened, whoever did it has now hoovered up any shares people sold based on those levels of support and won't be pushing the share price lower any longer. Any effort to find an even lower level of support has us going back to February 2021 when the price was on the way up. It's unlikely anyone has set stop losses or is basing their get-out plans on that.

So hopefully this means we're in a position to start moving up significantly.

Disclaimer: All my own musings, I'd like to hear your thoughts. I'm not a trader but hold for the long term. I've generally used charts as a good way to decide when to buy - but sadly, not to sell.