Too much:
I not discounting your chartists predicion compleatly, 2.60 is the long term support level and has been touched 4 times in the past 12 months. So a betting man would say that any market correction or a release of bad news would send most stocks back to their support levels.
The main difference on this run is that volume has been much higher showing "smart money" buying up and an RSI and MACD both giving strong bullish indications. This was not the case previously. If I knew how to post a chart perhaps it would make my case easier to explain.
RSI and MACD (for what they are worth) haven't been in the current positions since mid Oct when the stock rose from 3 to 3.5 (ish).
I wil be happy to revisit this forum in two weeks and swop "i told you so comments" After all it's valuable learning for us all and everytime I'm wrong I gain from the experience.
maintaining my accum/hold call.
OXR
oxiana limited
