As we are aware there is a General Meeting scheduled for Jan 20 to ratify the new company activity direction, post which there will be a share suspension.
With a CR to fund the new Mongolian coal project as well as the likelihood of new Mongolian project aquisitions it is entirely reasonable to expect a significant effort to push the SP higher prior to Jan 20.
Technically she has formed a nice descending triangle from the Nov 30 high with support at 1.4c
It must be noted that the pattern of trading in ROB has formed a descending triangle 3 times since the August 2011 spike (Aug/Oct/Nov)......and past behaviour is of course the best predictor of future behaviour....
By my calculations she has only a day or 2 more at 1.5c or below before she breaks upwards out of the downward sloping descending triangle resistance and heads to 1.8/1.9c.
As mentioned before she only needs to break above 1.9c and a swift move back to 3c should result.
Looking fwd to the weeks action ahead my fellow bank robbers
remember the strong are the patient and the patient become the strong.
tempus fugit
ROB Price at posting:
1.4¢ Sentiment: Buy Disclosure: Held
