Look closer. Directly above we have the daily end 2021 prior to the commencement of the March ‘22 bull run. Price had stabilised at 10c before the last two wick downs to, yep, 9.2c, Friday’s closing price. The very next candle (not shown) was the commencement of the quick subsequent run into circa 40c. Interestingly, there were gaps below 9.2 at that time that remained unfilled.
The top chart is our current daily. We have had a slightly longer period of consolidation at 10c than 2021. We now have what appears to be our last sub 10c shakedown if history is any guide, closing Friday at you guessed it, 9.2c, same as March 2021.
Now, there is NO reason the chart will play out as it did in 2021. Computers don’t have feelings, however they do retain all past trading information.
Given our longer consolidation this year, perhaps we dag around this price a few more sessions. The move when it comes, if history is any guide, will be quick. Get ya popcorn and let’s see if history continues to repeat.
A personalised tool to help users track selected stocks. Delivering real-time notifications on price updates, announcements, and performance stats on each to help make informed investment decisions.
(20min delay)