Compare the candle pattern today (the last 3 candles) with that 1/3 the way through November (on charts above) - look similar? Let's see if we gap up on the open this time as well... The last jump today, after the 300,000 sell adds spice, smacks of clearing overhang (there are known overhangs and unknown overhangs...). If we do gap up, that will clear the last few months' resistance. ...Has to be a good chance to get into 20p territory methinks...
But we're still over 2 months from results; what's brewing? It may be nothing other than clearing overhang / word getting out as undervalued / speculation on inclusion in new year picks-for-2004 lists; or maybe there is news afoot...
If there's no newsflow to add momentum (and volume), 20p would be a reasonable short-term target - it would be the top of a 7month uptrend (drawing a topside parallel to the bottom). If it takes a while to climb, the rise of the trend could see the topside hit nearer 21p. That was also support/resistance in late 2002, and could cause some problems again. So if 20/21p got bust, that would look very good on the chart - breaking support/resistance level and uptrend topside; that's what I'm hanging on for.
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