similarity to last july rally

If you compare the current chart characteristics to the characteristics surrounding the build up to the last July rally, NCM looks to be doing a similar action presently.

The RSI did a deep low (1) followed by a more shallow one (2). The first deep low marked the $22 area, the second improved RSI low market the actual low of $20.89.

Same has happened now. The first RSI low marking the $22 area followed by a second higher low (positive divergence) marking the bottom at $21.53.

Furthermore, it is interesting to see the NCM vs. All Ords comparison chart. Last time the rally started in July, divergence between the two was at 30%. At the $21.53 January low, divergence between NCM and All Ords hit 40%. Currently still stands at 40%. Timing is right for this gap to also close or at least reduce? I think so.

It is looking like $21.53 was the low and a proper uptrend has already commenced. We are in the midst of an uptrend as we speak. Chart evidence suggests it. It is also about time that there was some improvement in NCM share price! I think $26-$30.