RE:RE:RE:RE:Pressure off the stock?
Very true Aweigh.
I've always held onto the belief that chart patterns are very simply representations/diagrams of human behavior, in an auction arena. And because we're creatures of habit, we often behave in similar ways when situations/circumstances repeat themselves....lending validity to the idea that charts, because they're based on predictable human behaviors (fear, greed, optimism, pessimism, etc), often unfold in similar patterns.....which can give us a heads-up as to price direction.
Having said that, there's also the idea that chart patterns reflect something far less tangible - they reveal an underlying/unfolding dynamic that is not yet understood by the unwashed masses. (ie) I can't tell you the number of times I witnessed a chart breaking down well ahead of a bad piece of news that subsequently torpedoed the stock. Conversely....breakout patterns can lead to large, even parabolic, price moves to the upside
Sooooo......what do these recent positive TA indicators really mean? Eff'd if I know for true (LOL). But I do suspect there's more than a few very knowledgeable investors with deep pockets keeping a close eye on this project, which could account for the recent strength.