ALL in a bullish channel and rebounded off the ascending upper trend line.
Sell off occurred at 37p with a move back down to 30p.
However strong buying since then has brought price action back up to 35p with good volume.
A breakout of this channel could see price target of 17p above the upper trend line which at current levels would be a move from 37p to 54p.
Could see this go down to the 105 exponential moving average which is around 725p before rebounding and seeing a new upward trend on news up until Xmas.
I'm completely new to analysing charts and identifying chart patterns.
I was wondering if anyone could help me with the trend of the chart where I have put in two trend lines?
Is this considered to be a falling pattern wedge and therefore likely to see a bullish breakout in the near future?
