MAY 1.43% 6.9¢ melbana energy limited

May Chart, page-11797

  1. 7,562 Posts.
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    Many thanks for the updates.

    Quick observation - putting aside magic candlesticks, hobgoblins and other patterns too mysterious for us mere mortals to understand - When you do a simple line chart and look at the way MAY trades through "cycles" you can see a common pattern after sell-offs. That leads me to believe that we will see a circa 2 cent "spike" from our current location, followed by a 1-2 week sideways consolidation (1c range), before pushing higher. That sort of price action knits in nicely with the fundamentals: perhaps an announcement in the coming few days (causing the spike), a waiting period before the A3 spud, then a spud/drill rally.

    Fingers cross the dark lords of the technical world don't crucify me for not using the correct technical terms.

    Kit.
 
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