The negative divergence on the daily RSI just kept building...

The negative divergence on the daily RSI just kept building and was very clearly visible up to yesterday. There were 6 instances where the price touched a high of $3.25 but a crack at $3.26 not forthcoming.

When I saw Penn sell at $3.24, I thought he must have been advised by a chartist. Penn did very well selling his Qty 300,000 shares at $3.24. Good timing.

I agree with Benson. In the absence of a share buyback, a favorable ACCC announcement of TPM, NBN write down, NBN allowing TLS to monetise payments, federal election result, the share price likely to hold between $2.90-$3.25 for weeks and months until one or more of these events happen.

We know about the gap at $2.98, but I wouldn't rule out a trade at $2.93 again. Not tomorrow, but in the weeks ahead and without any of the above announcements and considering my belief that the rally in the XAO since the 21 December bottom has matured and is coming to an end.