As dire as the chart may now look it’s actually quite bullish.
The sp did have a go back in late July early August but couldn’t break through critical points as we were still too far out from the next revenue report.
Next revenues are anyone’s guess and we going to need the Dec report for averages but things seem to be shaping up.
Here’s my TA spin on a weekly chart. ( I’ve been doing TA for over 20 years. Bash me if want)
Just a couple of things to note on the chart.
These long legged doji’s tell it all. In the week beginning 14/08. the price was felt out stretched out with a top of 18..5 and a low of 15.5 (surprisingly the closing price today) a big player trying feel out the bottom.
Then the stock was systemically sold down 2.5 million 1 week & 1.5 million the next week until we sold down to about 16 cents, below that was just fallout.
Now we have a doji at the bottom of higher low (bullish) Large volumes on the buy up and lesser volumes on the sell down. All good in my opinion.
2.5 weeks until the next report, anticipation building, let us see what happens.
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