Volume Spread Analysis (VSA) chart provided below.Following the...

Volume Spread Analysis (VSA) chart provided below.
Following the drop from a High of 265c down to 54.5c and the Selling Climax signal on 14/07 the SP moved back up to the 50% fib retrace level. Along the way it put in a Very High Volume Buying Climax bar on 09/08 which has set up a new Price Anchor Zone and AZ Close level at 124c.
Higher prices were rejected at the 50% fib retrace level with a Two Bar Reversal Down VSA signal. The SP then retreated back into the High Volume Anchor Zone range and the large number of No Supply VSA signals at the lower level of this range suggest that there is strong support at this level.
Over last week the SP attempted to move out of the AZ Range but this price action resulted in a No Result From Effort signal and a price retreat back towards the AZ Close level.
I would expect continued sideways price action until the SP can break above the 50% fib retrace level at around 158c. Being a speculative stock good news is the only thing that can create such a move. The best strategy I guess would be to trade the current range from around 110c to 140c and wait for a break above 160c to re-establish long only positions. This is not financial advice, just my current thoughts re the technical price volume action.
Good luck everyone.