Top chart is a Weekly I posted back in mid October, the Pitch Fan channel encompasses 3 years of trading history and generates a red median line, and the inner and outter channels. This red median line has been respected as a pivot point at least 8 times in 3 years of history so keep that in mind for the monthly following.
The recent support at 4.5 was smack on the median line , it worked a treat with a triple bottom in place., then rallying strongly off it.
The break of last years high, and closing above last years high weekly close, also worked a treat with the breakout to the topside. The breakout was then doubly confirmed with the explosive rally through the top channel at 8.0
The use of the channels as stated previously is like determining the hide tide and low tide marks when major moves happen. The probability of returning at least to the median line after a high or low tide, is 80%
So, taking a long term view, take a snap of the monthly Chart going back to 2003.
After a long period of stagnation, hugging the bottom channel, we have just hit the inner channel. A little bit of work around this zone is to be expected. A strong monthly close above 12.5 will signal a high probability the median line will act like a magnet. January 2021 it comes in at 42.5
Be prepared. Trading for a 1c pocket money token will see many get swept away and lose a good position as the next impulse waves to the topside play out. Staying long for the rally from bottom to top as per the top weekly chart has already netted a “ten bagger”. Play the long game, the upper limits of the monthly pitch fan will be a once in a lifetime opportunity for many. The fundamentals behind the pipeline IP back it up.
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Top chart is a Weekly I posted back in mid October, the Pitch...
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