Well at minimum it appears the sp has strong support at the 15-16c level, WME now looks to have finished stage four (decline) and entered into stage one (firm base).
I too feel the frustration with the current stagnation of the sp. You'll notice though that the resistance at 17c had dropped from around 700,000 to just over 250,000 over the past week. Indeed the market depth currently doesnt show a great deal of resistance until the 19.5/20c level.
With two positive announcements due (hopefully), the licence renewal and interim resource upgrade, IMO theres a strong possibility the the upward buying pressure will see us break out of the teens. If these come soon and the resource upgrade exceeds market expectation, this may well bring WME back to the 'market darling' status we saw a few months back.
M
overhead resistance thinning...
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