We probably we need to be honest with ourselves and say that the retrace was too much to call it a handle. The handle has fallen off this one. It's enough to make you fly off the handle.......
But the big positive I took away was the way that the 20 and 50 day emas have become support. They were overhead resistance for a fair while and a couple of weeks ago every time we tried to break up through those levels we got smashed back down. Whilst the SP did fall straight through those 2 emas last week when it touched 5.1c the buyers very smartly regained control and we finished the week above those levels.
VPC Price at posting:
6.0¢ Sentiment: Buy Disclosure: Held