An update to this long-term chart for the investors. I last...

An update to this long-term chart for the investors.

I last displayed this weekly/log-scale setup in August (Post#68896849) when the SP was $10.38, and @bfg4444 suggested that implied risk was limited to about $8.50 by the lower boundary of the price channel (Post#68900986). That interpretation proved to be correct with the closing low of $8.40 on 20^th October.

The SP now has rebounded from that new low and the price channel structure and its growth rate of 89% p.a. remain unchanged. As a result of that rebound each of the medium-term momentum indicators has begun to turn upward from highly oversold positions.



Represented in this manner the price channel serves as an inclined trading range, with its lower boundary acting as the primary level of support and the upper boundary as the highest level of resistance. Two parallel internal lines (grey) also have described support or resistance to price movements that have occurred within those boundaries. They also probably represent a reasonable indication of a fair value range.

While the fundamental drivers of this growth rate remain unchanged the chart setup can have value in projecting likely forward prices as well as indicating levels of general market over- or undervaluation on a longer-term basis.

With the company still in its early stages of product expansion there appears to be every reason to remain optimistic about the continuation of a growth rate of this order.