the trend is up, page-6

I'm uncertain myself. But here are some things to consider:

Recent retrace was a fraction below 50% of the most recent high (20.5) and low (8.2) formation.

Didn't close below the 50% retrace for more than 2 days (only once at 13.5c with 50% retrace near enough to 14.5c)

Recent volume has been augmented by some large cross trades (possibly movement of shares between portfolios), leading to an exaggeration of actual trading volume

Recent drop nearly fell to high set in Oct 2003 (12c) but did not penetrate.

Recent drop coincided with bearish MACD crossover - indicating a sell signal but not necessarily a trend change

and......

Recent trading could have been manipulated by the trading of larger holdings (both up and down)

I personally think that the current trend is probably still intact BUT this trend is somewhat driven by the fundamentals (i.e. according to many there will be a 'very very soon there will be an announcement ...' ), which may turn out to be unduely high expectations. Should this announcement not occur or not live up to expectation, then the current uptrend will more than likely break down.

Can anyone add - dispute this?

GC