Since that last time it set a Lower-high at 72c Oct 2024 there have been 14 days where the SP traded under 40c. The last time was just 2 days ago. On one day it reached below 35c.
So there have been plenty of opportunities for that chance of plenty of profit if you were prepared to try to catch that falling dagger.
However the weekly chart I posted has been bearish for over one and half years with the 40WMA falling constantly. Recently it has just began to flatten out. The 10WMA has been basically flat since last December. So it seems that we are in the doldrums between a bearish and bullish market.
From a charting perspective there are no indicators as to how long this doldrum period will last. The purpose of my weekly chart post was to draw attention to two signals (one short term with the other medium term) that could indicate that a significant change could be on the cards.
Even with yesterdays good news, I would not bet my house on the SP not hitting 40c again.
There is another half signal if the SP trades above the 56c sustainably.
We shall see?
Cheers Lies
PS Just read Rainmans post about Bell-curves. They don't qualify as bell-curves at the long term bottom of a market. Only the pause period after a significant rise.
TLG Price at posting:
47.0¢ Sentiment: Hold Disclosure: Held
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