Interesting.
QPM was setting up with a nice pennant, looking like it would sit stable until the DFS dropped. Sort of cute and not entirely surprising. But today it's having a go at breaking out early (the DFS hasn't been released yet). I suppose the market is expecting positive things, I suppose I agree with it.
The break out target is 22c. I have little doubt that we'll very quickly (hours, maybe minutes) exceed this target once the DFS is released as long as it's good, which I think it will be, but it'll be interesting to see if we can hit the 22c TA target before the DFS is released. Not what I was expecting, but it's a fun show to watch.
If we are sitting around the 22c TA target when the DFS is released, and it's good (seems fairly likely at this point) we should see the pure TA traders wanting to sell out (LOL) and there will be the 'sell the news' folks getting out (hahaha) so there may even be a very brief drop in price on a good DFS release. I would only expect that to last a few minutes, but it'll be very funny to watch if it plays out that way. I'm crossing my fingers for the DFS tomorrow or Friday. Monday or Tuesday would be fine, the market will probably be nervous if we haven't heard anything by Wednesday morning.
Either way, it's sort of nice to see the chart having a go at breaking out early.
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