Wasn't going to post as it's never popular to show charts with a...

Wasn't going to post as it's never popular to show charts with a continuing downtrend and especially when you have one of the best in the business in Cabbie covering the stock.

But can I add these recent developments from my point of view and keep in mind that my views are generally short termed based.

On the daily it's easy to see how nicely the SP has printed down the yellow 8ema therefore it acts as a good tour guide for any change in momentum. The last two sessions IMO have giving off the first hints that a reversal of trend may be coming and here's why.
You can see for the first time in a while we have two lower wicks at the same level indicating that when .19 is tested buyers said, "that's enough" and bought it back up. This is also an indication that sellers may be exhausted as the buying volumes were pretty solid. We also see a little bend in the road towards the positive for MACD (circled). Even the 8ema has bent therefore a green candle closing above that I would see as significant.
Now it's important to declare that these indications are very early and to me act as "pay attention" signals only at this stage.



To add another reason to back this up is the hourly chart. For the first time in a month, candles are printing above the 8/20 ema"s and the 8ema looks like it wants to cross into positive territory above the 20ema.

Click on chart to enlarge.


Really hope it works out for holders and if so, my first target would be the bollie median (white) and when need to see how it gets there before giving an outlook further IMO.
The market might have other ideas and make this post completely void but it's as I see it currently.

Current shorts/hedge position. 9.3%



Cheers