OK, here's my 2c worth. I'm not a gun TA but .......... The...

OK, here's my 2c worth.
I'm not a gun TA but ..........

The current chart is virtually identical to the chart pattern to in early April i.e. SP 8>10c. SP subsequently broke out and topped at 24c - a 100+% move.

I'm not suggesting that another equivalent move is imminent as there appears to be 2 possible negatives affecting continued rally
1) resistance at the top Bollinger Band (BB) i.e. 18c.
2) the 50 & 100 day EMA's are moving up through the bottom BB, which usually acts as an attractor for the SP to move to that point i.e. ~13c.

These 2 negatives could influence a continued move upwards unless there is enough volume and momentum to break out.

If SP breaks out confidently >18c in the next 2 to 4 days then we might expect a swift move up to the previous highs at 24c - similar to April.

At that point you'd normally expect resistance, retrace and consolidation before retesting the 24c.

The tech positives for such a move are - the MACD & RSI have a lot of headroom clearance for a continued upward move i.e. they are not currently overbought (even though they are pressuring the top BB). In particular the MACD is just about to break up through zero, a very very bullish sign of growing momentum - all we need is for that to continue and the ball will be in play.

Interested to here from other TA's and wannabe's like me.

I entered TAS earlier this week, so you guys have the jump on me when it comes to local knowledge, history, skeletons in the closet etc (every co has them). I'm just here to try to make some money, aren't we all.