ithaca Pull Back Not a Bad ThingLooking at the chart since the new year, we were very much due a pull back of this sort of order, perhaps a little more. From a charting perpective the break above £0.6 was important even if we briefly pull below again. It is important that we jettison the weaker vertigo suffering holders regularly as we rise even at this relatively early stage of gains - this is what allows a steady longer term upward chart pattern of the type we have seen over the past few months.
Sets us up nicely for the departure. If anyone is suffering a desperate need to take profits then my advice is to sell, go and don't return. You will sleep better and it is better for the longer term determined holders if those uncomfortable with the heat leave the kitchen now.
Doug