RE: Sept30 Aug 2020 11:27
Morning @Dave77 - layered on top of expected catalyst newsflow, bullish technical foundations in place to support SP rise / breakout:
- Relative Strength Index (RSI) rising, sub 30 post July Trading update RNS in July, now 52.7. Bullish divergence of momentum indicator.
- Ascending Triangle formed, bullish signal, heading towards 10th wave testing upside circa £1 line. Multiple waves create potential coiled spring & eventual stronger breakout. Based on technicals 1st breakout to circa £1.40-50. Vol has been reducing inline with consolidation ahead of breakout.
News will propel.
PP