Hi Folks
Two charts today. Daily first and then the weekly.
We broke higher above ROL-2 (0.165 bullish) yesterday and today broke above ROL-1 (0.185) for a while getting briefly to 0.20 but closed at 0.185.
Some good signs. In the coming days first need to close above 0.185. There is expected resistance in the range 0.205 - 0.225.
A close in the resistance area, for a couple of days, without a significant pullback would be useful, as would breaking above 0.225.
Weekly Charts. So far we seemed to have formed an almost perfect cup and handle pattern, for the benefits to flow, we need to get clear of that right lip. (seems bullish)
Other signals. 10WMA crossed above 40WMA 10 weeks ago (bullish) and is rising strongly.
RSI(5) , MACD and Stoch's all positive. (bullish)
The signals are good, but I am not getting carried away as yet. When I first got into IPD there was about 350m shares on issue and currently we have around 1.7b. So, while I see some definite progress ahead, I can't see any explosions, but 3 steps forward and 1 step back would be worth seeing.
We shall see?
Just my opinion, so DYOR
