A CHARTISTS PRICE GUIDE FOR NON-CHARTISTS.

IDH - 113.50p .. the 'all-data' chart below, shows that the price has established a strong uptrend during the last 5 mths. Its reaching new highs .. so the 'sky is the limit' .. there are no 'historical resistance levels' to worry about, so its just a matter of identifying the 'psychological resistance levels'.

Its indicators are high in positive territory, but are showing signs of falling, which suggests that the price is entering a negative period, during which time some retracement is likely.



However, zooming into its recent chart, its looking good !! .. this month the price has moved up strongly from the 100.00p level, and gained the support of the 112.50p 'mid point' level .. so its out of reach of the strong influence of the 100.00p level .. and is consolidating at the 'mid point level' before attempting to reach its next target of 125.00p.



Its short term indicators are relatively level, suggesting further consolidation, and it is sitting at the breakout point, having formed what I call a 'Mountain Top Plateau' .. another of my favourite formations, because its breakout signal is so clear .. as soon as 'buys' start appearing above 115.00p, it will be a 'clear signal' that the price is getting ready to make its move .. however, sometimes it will just 'stick its head above for a quick look around', so as usual, a 'close' above is required for a breakout confirmation.

The 'underlying uptrend' is converging on the breakout level in a couple of weeks time .. so before this occurs .. the price has to breakout in one direction or another, and whichever direction it eventually decides, I would expect the breakout to be carried out with some strong moves .. although all the indications at the moment suggest a breakout to the upside .. the negative view, would be the support failure of the underlying uptrend, which could see the price retracing back to the 100.00p level .. so at the moment, its just a matter of waiting to see its next move, but at least it shouldn't be too long to wait.
.. As I reckon its sitting at the end of the runway waiting for its clearance for take-off, I would be grateful if you could highlight it on this thread again if it 'closes' above 115.00p.

As usual, just a few unbiased thoughts from a non-holder.