OBJ - TA - 2016-09-15 - New high target 15.9?

Hi All

Its very odd for me to be posting, long time reader, very long term large holder, usually I only use HC as a sentiment guide,(that might change now) and thought this missed event is worth mentioning.

Whilst i respect and use charts, I don't believe in some of the black magic or superstitions that most chartists tend to present for their points of view. However i do believe in the self fulfilling prophecies they create inside the trading community, which often do follow through due to their self powered beliefs.

Take this one in OBJ now, its potentially a great one.

I believe we are in what traders call  a 6, (possibly 9) month Ascending Triangle(Continuation)
http://stockcharts.com/school/doku....hart_patterns:ascending_triangle_continuation.

And based on that both being in place & occurring now, (with a possible reversal starting yesterday), a large re-rate MIGHT occur....

How many traders agree? breakout "imminent" to 15.9?(Read the pattern details in link to understand the target)


Personally I see no real mathematical logic, quantitative, or qualitative basis for any prediction to 15.9 without good news. For me the fundamentals however show a very bright future above that target in the future, so I'm holding LT on that basis, and TA is just for fun.

As always however, please take this entire post all as all being my uneducated opinion only, and DYOR here before making any decisions.