May I add that if we close above 62.5c today we will have forfilled the conditions for a bullish Swing Low 3 day pattern... ie stong bullish reversal pattern. As I speak there are only 23k of shares between us and that Swinglow being activated.
Also I contend that the Bullish Flag/pennant that you refer to can be more easily seen on the weekly chart. You could argue that the flag pole starts 28c conservatively (so Length 45 approx)...so if pattern breaks to the upside you could project a target 45c above the current retrace price low of 56c which gives us $1.01.
I might also add that sentiemnt on world markets has swung back to the positve with new highs being acheived on some indicies already I expect this will continue and the the XAO will follow shortly
The only dim light I can see is the Buy Sell Ratio which is bearish at the moment but ...I put little weight in this as most of the larger trades lately are coming from offscreen and never actually appear on the buy sell queues. It is also common for the Buy/Sell ratio to go negative during a retracement.
So ... again just a matter of time IMHO. DYOR
EER Price at posting:
60.0¢ Sentiment: Hold Disclosure: Held
