trend continuation ii

Hi All,

Below is, once again, our stock in trend mode.

It is quite obvious that price action is leading the way. The Smoother Longer Term averages seemed to have found nice support at the 12.5/13c mark and today see's the stock at 14c.

What is really fascinating is the activity of the Shorter Term, more volatile averages, which expose the "plays" of the day trader (or short term traders.

We can also see nice visual clues whereby the Short Termers (represented by the shorter term purple averages)try and pushed the stock low with as much ammo as the bears could muster. However, what took place was the fact they decisively ran out of steam and fell into to low swooping horns of the bull which held prices and provided good foundations of support.

We also saw a little compression of the Long Term group which signified a slight weakening in trend at that point, but only to be revealed the winner after todays action.

Still early days yet, but the chart remains bullish.

I might add that a break of 14.5c and a clean decisive break of 16c may bring in a whole new wave of "breakout" buying which are technical traders that use methods that orbit around the realms of Support/Resistance lines.

I mentioned last week to "fasten your seatbelts, She gonna blow".

Price Action is the nest speedometer.

Cheers
Babylon



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