I do not think we'll get a retrace of that magnitude. Just on that retrace in April i remember watching closely. In my opinion it was a well organised stop raid. It seemed to catch holders unaware and as more stops were hit they sold on market and there was a massive cascading effect. the buy side was very thin. It worked brilliantly for the accumulator. The same thing seems to have been tried since but with less success.
So in conclusion, firstly, i think that this is pretty tightly held. I think holders have seen the price come back up after retraces and maybe have removed stop losses as they are prepared to ride out any short term volatility. And secondly short term traders have perhaps seen some of the long candles and are prepared to jump in on weakness expecting a bounce.
good luck all
EXT Price at posting:
$6.58 Sentiment: None Disclosure: Held
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