Nice Legs!I am encouraged by the chart of Regulus, particularly this week, where we have seen extensive backing and filling around the $1.60 level. This is generally regarded as a good thing in technical circles, as a solid base at these higher levels will often be followed by a new leg up as sellers become exhausted.
What is somewhat curious is that there has been no news in support of the fresh buying that keeps coming into the stock. Perhaps there is something more to the pending signing of the land tenure agreement than is apparent. After all, granting rights of mutual access and rationalising exploitation among the three paerticipants will greatly augment the appeal of the land package to third parties as well.
Could we just possibly be looking at a property that is about to transform from headache to sexy? The legs are revealing.