on the nose, page-9

A stellar looking chart IMO

A mthly chart ( I am a Short term punter I don't follow PIP by PIP) I try to anticipate monthly moves in advance, SRZ is a stock I have traded in the past and it has been good to me, I think its about to do it all again and here is why from a TA point of view.

White lines are the highs and lows of a short term trend that the price has respected since the 2008 low.
Red lines are long term break lines from the all time high.Green lines are support lines. The Pink line is the most meaningful line of all it is basically the Key to unlocking the charts upside, a line if u like between old and new market cycles relative to the markets view of Stellar.

The reason for me posting here and the relavence to that timing:

The yellow circle shows a "blow off top" mthly candle that penetrates the top trend line.
In charts, all things are usually equal, a bit like physics, for every action there is an equal or opposite reaction. In this case you look for the opposite reaction to happen at the bottom of the trend channel. Yesterday it did by penetrating the lower line (with equal force or price %).

So what next: ( I believe its all up from here)

look to the past for history to repeat. The july 10 low (light blue circle) respected the the green and red lines before breaking to the upside. A point a call the heel, its where the lines meet at the bottom and then break out. The result was a huge 3mth move back to the top of the channel.

I am looking for a repeat right here with the white arrow from the "heel". The only dirrerence this time is that Pink line intersects at the exact same point. What this tells me is that the long term down trend is over and a new bull cycle is about to start. In other words the current trend channel in white is still in play short term, but in the right market conditions going forward expect the all time highs to once again become a legitimate target.

Robjm... no chart can explain the reason for the volume spike. The most logical explaination to my brain is where one party seeks an end... another seeks a start. I don't try to second guess or contemplate whats behind others reasoning... it clouds my judgement..... I just rely on various indicators to tell me whats going on.

Indicators are the silent story behind a chart and can reasure you to whats really going on. I will follow this post up when I get a chance with a few indicators that paint a very reassuring picture of Stellar at the current time.

My Short term view, as alluded to on the previous post is as follows:

Feb: look for a price top of approx 8-9c to break the pink and red retrace resistance lines.
March: Launch time, starting from a base of approx 7c a convenient time for an upgrade ann from current drilling prog!