I'm not prepared to jump ship yet. I'm inclined to think the last three days weakness is pretty much the last of the DT's liquidating and moving on. I noticed the price often creep up a bit just to be knocked down by a larger seller often taking out most or all of a buy line.
A basic premis of charting is that it is presumed that the market is pretty well informed of the company activities and is able to make reasonable valuations based on that information. While I wasn't surprised at the capital raising, once the Trading Halt had been called, I think most people (including me
)didn't expect that announcement would be made at the same time as the Selene assay results, hence the 'perfect' ascending triangle indicating another breakout, followed by three down days, since 26c was providing a bit of resistance
But the trading range is still in an ascending triangle (Pole and Pennant) formation. Given that those relatively unexplored targets at Break of Day, Everlasting and Telegraph prospects where some good intersections have been recorded and more geochemical analysis from Clinker Hill are expected in the next couple of weeks, I am anticipating more good results and a continuation of trading in the range until then. I think some good assays from these prospects outside existing resources would do the trick to breech the 26c resistance and head into the 40c's.
I'm also anticipating we will get another retrace of the markets and POG before the market kicks on again, so if a couple of volitile days dump the price lower, I'll be looking to top up a bit.
Also of interest is the Stockastic has hit the floor, 0. It's unusual for it to crawl along the floor except for stocks that have very low turnover and volitility or that the market has deserted in mass. So I wouldn't be surprised to see a slight gain on Monday.