XAR - 268.50p .. the chart below shows sideways movement, and either a break to the upside, or to the downside .. and I guarantee it will do one of the 3 x options .. unless I have missed any other possible options :-)
As you point out, the price has come up against the 300.00p barrier, and for the last 6 mths, it has been consolidating around the 275.00p level, within a range of around 250.00p - 300.00p .. the fact that it has been consolidating for so long, suggests to me that it will eventually attempt the breakout to the upside .. otherwise I reckon it would have started retracing by now.
I have drawn a 'cup & handle' formation on the chart above, which I believe is a possibility .. ignore any time scale on the forward chart projection.
It reminds me of the CRM chart below .. although it spent about a year consolidating, between 300.00p - 350.00p .. it was well worth the wait, cos when it 'took-off' .. it 'took-off' !! .. Hopefully XAR will eventually produce a similar strong breakout.
At the moment, the price is below the 275.00p mid range price, and its indicators are falling, which suggests that the price is in a 'negative period', during which further retracement towards the range floor is likely.
However, if you have faith in the future of the company, then this may provide an opportunity to try and buy/add as close to the 250.00p range floor as possible .. the other ideal time to buy, would be upon confirmation of the 300.00p breakout .. on the negative side, a 'close' below 250.00p would be the first warning sign of possible further retracement.
If you are following its progress, I would be grateful if you could highlight it on this thread again, if the price 'closes' above 300.00p, or below 250.00p.
