The last week's price action has seen a strong reversal of a...

The last week's price action has seen a strong reversal of a recent trend - so what goes down must come up.

Having said this, last week's rise was on falling daily volumes. It's unclear if Friday's break through to 0.235 is a genuine break in resistance, or a signal for a pullback into a channel (0.19-0.23):



Friday's trading also saw a break through the 50MA, which now sits at 0.229. There has been a large amount of green candlesticks since August:



The NBN-related quote of the week comes from James Fernyhough of the Australian Financial Review. It mentions a recent report by Infrastructure Australia, which Fernyhough said 'was heavily critical of the NBN':

'It also warned that the "multi-technology mix" adopted by the Abbott government when Malcolm Turnbull was communications minister, which makes use of Telstra's ageing copper lines for the last stretch from the "node" cabinet in the street to the neighbouring premises, had left NBN vulnerable to competition from fixed wireless alternatives.'

When a Commonwealth infrastructure body has this to say about fixed wireless, that seems like a good sign for ST1.