ipl chart, page-2

An update to this lousy stock LOL.
As usual I use the big picture first using point and figure daily. Can use the weekly or monthly too if one wishes. I use this chart to eye out the support and resistance lines as well as the larger repeating ranges visually (no software tools involved) One can see the repeating ranges and upper resistance levels quite clearly


Next I throw up the weeklu so you can see my pitch forks. Crickey IPL just managed to come back inside the lower Tyne ! The stock has strong resistance shown by the horizontal AND the diagonal lines just above (on this chart you can see how I managed to populate those other multiple resistance lines ahead

Next, using this same chart I had a quick look at the STO, MACD and CCI indicators and each seem to be building on the weekly

Next the daily chart, we got the W bottom and what I like is the big vol on the big candle on around the 17th but then countered somewhat by the red one following 2 days later. The last candle shows indecision (spinning top). then we have the pinky 195 MAV just above and the 13 MAV just below and we ahve I think a valid swing higher low trade here. We have also the fib levels and so on just above so definitely IPL in a pinch area and the next few days would be decisive as to where she is to go. Buggered if I know perhaps a look to the broader market tells us what to do as this alone says nothing to me


In a final attempt I look to the STO, MACD and CCI. The CCI is negative, STO is OK and MACD seems OK

So on balance maybe a 60 % chancev of a break through those resistances above ?
Look to the USD I suppose ? Looks like the Oz dollar is now set for a new move up and so that in my view puts the odds for IPL to maintain a very narrow range for the next few days closer to 80 %
I summary I dont think IPL is going up nest week nor for that matter down.
Lets see as I am struggling with this one and welcome any input to greater understanding of it