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- 19 August 2021
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This pattern isn't a particularly tidy one and could also be a flag (rectangular) rather than a pennant. The pattern doesn't follow a technical 12 week uptrend or downtrend but price has generally been falling and I'd not be backing this one to break up as I probably lean more to it breaking down. A confident close below $0.38 would suggest 'game over' to me.This looked like it was breaking up on Friday with a nice candle, then they came out with what looked like a very nice driling update this am and kapow, down 10%. Very unusual. Maybe a buy the rumour sell the facts type thing.
So, still in pre-potential breakout position...