This has has held up really well during the recent turmoil...In...

This has has held up really well during the recent turmoil...

In fact, in spite of the wider carnage we find ourselves literally on the verge of a significant breakout.

Hard to say when...so we look to the charts for a possible lead?

The daily chart shows lack of commitment to move ahead...but also resistance to fall below 35c...clearly a line in the sand being defended by the recent placement recipients. Such behavior typically results in one particualr outcome (eventually) and that of course is an upwards break.

The weekly chart is perhaps a far more compelling story...with 38c underlined as an important breakout level. Indeed, a break through here has targets significantly higher, with high 40's/low 50's likely to be tested before the next stage of consolidation kicks in.

This is a potential 50-60% move, likely to play out over some 3-4 weeks.

If so...and assuming the next lot of accumulation takes place just below the recent high of 48c, the next break should see it rise to the 70c level, before a retracement to the high 50's/low 60's for yet another cycle of consolidation.

It is clear this is cheap compared to its peers, but exactly what might be the catalyst behind any such a moves is a little hard to determine.

I can think of few better places to leave your money parked in the current climate...but it must be remembered, this is definately not a stock for trading.

Investors only recommended.

Cheers!