Just to add to the current conversation on SDL short-term future, my charting has me inclined to think we could see a share price of 20.5 cents by the last week of February. This would coincide with the meeting of the median lines of the medium term Blue pitchfork and the shorter term Green pitchfork on the accompanying chart. Given that price always tends to return to the median line, the junction point of these two should exert a strong influence on price movement, particularly for those large investors whose decisions are driven largely by technical analysis in the absence of major changes to fundamentals.
I should point out that this target is based on the assumption that the price will not breach the support of both the Green and the Blue lower median (support) lines. Should that happen then all bets are off and the descending Red pitchfork would definitely be hte valid descriptor of price movements. However, given the recent period of consolodation & accumulation from which we are now breaking away, I regard such a possibility as slight.
A target of 20.5 cents by around 25 Feb is what I am looking forward to, on the basis of current charting. If the picture changes, I will re-asses and redraw the charts as necessary to reflect the reality of what transpires.
If nothing else, this assessment may give some confidence to those who have reached the same or similar conclusions by other means. Good luck to us all.
Regards, Bones
SDL Price at posting:
15.5¢ Sentiment: Hold Disclosure: Held
