OBL makes a ragged sawtooth pattern but price has been rising consistently for the past 20 years. Price recently broke above a valid weekly downtrend (a buy signal) and went on to make a higher trough. Should price move above $4.45 with volume this would suggest a target of $5.18 - being a gain of 20% of this week's close. Elliott Wave pattern is unclear but with the buy signals mentioned and price coming off a long-term support line, I'll be a buyer next week (providing price moves up).

OBL 1Jan21


Robert Norman

Phone: 0428 346 951
Email: robert@sharecharting.com.au

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