Agreed with Zior, The short term charts are looking very choppy...

Agreed with Zior, The short term charts are looking very choppy giving conflicting signals, and with Slick, short term conviction and sentiment is not as strong as it has been, so
what does that mean? Simple... A period of consolidation or finding short term equilibrium where neither bulls or bears have the upper hand. Or in layman’s terms the strength of the recent rally was probably a little fast, so it’s as though the foot has come off the accelerator and we’ve just been in drift mode letting off a bit of steam in preparation for the next move. Evidenced also by low volume days for all of January.

However, Weekly Chart showing the Ichimoku Cloud is a lot more convincing. The uptrend is very much still in tact. “ The Cloud” , arrowed with green , showing a Longer term solid band of support between 10.5 and 7.5 . That is to say any pullback into this area should be viewed as the base for the next move higher.

The Chaikin Money Flow , arrowed blue, has drifted downwards since the high in November , however it has already bottomed out and has started to turn back up... a very positive sign from a leading indicator.

in addition the flag and pole formation identified back in December is still in tact. A break to the topside of the flag through the 12c area should see a move equal in size to the height of the pole , the pole being measured 6.5 to 14, or 7.5 in height .... so. add 7.5 to 12 gives us 19.5 target.

Once all the weak sellers have finished doing their thing at current levels, the resistance at 13, 14, 15 etc will no longer be there. Fresh buyers missing out on this dip or fresh news on HerVax or PD1 should help confirm what we already know.... our pipeline is becoming very valuable and licensing deals with a healthy upfront dividend may not be far away.
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