50 day exponential MA17 Jul 2022 16:33
Here`s a chart even the non chartists will like, if you`re a genuine shareholder!
This is a daily chart focusing on the 50ema, in pink, this is a well used and respected timeframe.
https://www.tradingview.com/x/irtBA08x/
The last time the share price closed above it (not including recent) was on 21st April, green arrow left. Then look at the amount of times price tried to test it since, and get rejected...red arrows!
It peaked its head above intraday a couple of times, but always closed under it.
Then look more recently to the double red arrows, just before the trading update, 6 consecutive days in a row getting rejected and closing below.
Then after the update we have 6 consecutive days in a row where price breached it, and closed above it, double green arrows, with a strong last day in particular under rising volume...yellow arrow.
This is a very strong show of positive sentiment post trading update, with the 22 ema in blue now rising, and the 50ema starting to turn upwards in the last few sessions.
I would expect that if price drops back down to the rising 50ema in the coming days/weeks it will provide a buy signal for traders and longer term savvy investors.
Not predicting any rockets taking off to the moon, but there does seem to be positive trend reversal signs, and some blue sky above for price to move in to.