Stayed off of HC for a while to calm my nerves a bit. Good to...

Stayed off of HC for a while to calm my nerves a bit. Good to see the SUM subforum hasn't changed a bit in my absence.

Sum chart musings...

Looking at a Daily chart, Last two days of trading made higher lows and both had highs of 32c. EMAs yet to cross. MACD heading towards zero and if the current levels are maintained should see around zero in a weeks time. If it maintains this trend BBs should close up somewhat - spread pretty wide atm. Roughly 4m traded each of the previous two days - Below the average since acquisition. Currently in oversold territory.

Looking at a Hourly chart, Last two days of trading have been pretty consistent on price. EMAs started to cross over to the downside around the 28th June when it first hit oversold territory where it has remained at the duration of the selldown from 44c. BBs very close to the hourly candles indicating a significant reduction in volatility last two days. MACD and Signal indicators crossed over slightly below zero around the 3rd July and ever so slightly trending upwards adding further weight to a reduction of volatility and a bit of price stability.

Looking at a 15m chart, EMAs once again heading downwards as to be expected. BBs very tight. MACD moving about a bit due to the short timebase but sitting in a range from below zero to zero.

I know not everyone on here likes charts and they are a lagging indicator but if these conditions continue for a couple more days you could safely say that this is the bottom, IMO. The most explosive moves upwards come from a combination of tight BBs, a negative or near zero MACD with the signal line lower than the MACD and an oversold RSI. Some of the better charters on here would be able to say more but I am not entirely convinced we have an Elliot wave playing out here. The run up to ATH had a handful of slight pullbacks, which could possibly be interpreted as W2 and W4, which would put ATH at the end of W5, but W3 was not long enough to fit the EW principal IMO.

Only thing I can say for sure is the combination of technicals I see here on my screen at the moment does suggest a move upwards is on the cards shortly, might be a big move if it is W5 of an EW, might be a small move if its section B of a EW Retrace. I could be completely wrong and its not an EW at all. Only time will tell.

Fundamentals are good and the potential is there, ignore the noise and see where the projects lead.
GLTAH. OP.