We posted a double top break up on a PNF chart yesterday, and a break above the 45 degree downtrend from 127p. The move up from 106 to 127 gives a vertical count price target of 164p (We won't go there in a straight line).
The MMs know this. Many of us have been patiently waiting for this to happen and smart money will have been buying new shorts & building longs!
We also had an inverse head & shoulders with a broken neck on a daily candle chart!
CW's SP was being shorted at 120p / 121p resistance, bears were getting comfortable shorting for a few pence.
Some bears will have been caught by surprise with the strength of the move.. (90 million shares traded)... I am pleased we held to the close. We might see some more short covering and marging calls to take us higher.
Grim..
Maybe they know why Bulldog employed an extra 250 customer service staff! (Month End) LOL
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