In my view the chart looks very interesting today. I would draw...

In my view the chart looks very interesting today. I would draw your attention to two points:

1. Yesterday the SP broke upwards through a long term trend line. Today it has simply come back to retest the breakout. I seem to recall when I called the bottom just above 4 bucks we broke up out of a descending wedge. I said at the time that I thought we would see a pull back to retest the break out similar to what we are seeing today. In that case it did not happen as the next day we got stellar news and the SP just shot straight to $11.35 which was pretty close to my stated target of $11.20. So what happens next?? That leads me to the second point of interest.

2. Apart from breaking through the rising trend line it looks like in the shorter term we are seeing a textbook cup and handle break out pattern. Rule of thumb with these patterns is that a text book case will see the SP shoot to a level equal to the depth of the cup. I am being conservative and using a bit of poetic license and I am treating the depth of the cup as about 5 bucks and I am excluding that brief dip below as an anomaly. The reason I am doing that is a 5 buck break out takes us to my next fibonacci target just over 18 buck. If we take the dip down to $7.20 as the bottom of the cup then I guess a target of over 19 bucks is on the cards but for now I'll stick with my $18.27 target. I think we could go to 18 bucks very quickly from here.

WA1 is the most remarkable stock I have ever owned and from a charting perspective it's been a fascinating journey. The trick with this stock is not to restrict yourself to linear thinking. Think logarithmic, think exponential......or more precisely, think Fibonacci spirals. I guess one day the party will end and the Lassonde curve will kick in. But just not quite yet