OXIG Oxford Intrsuments

OXIG has an interesting technical pattern that I came across while trying to write a query to detect NR7 breakouts.

It seems to have formed an island bottom and broke out yesterday.

Any views?
The concern I have with OXIG is the long term supply trendline is perilously close. If it can break though at around 162 in the next few days and make (say) 170 then the resistance is around 182.

I presume the Island bottom you refer to is the bottom made between the gap down and gap up.

there was a gap down on march 12 and another yesterday.

The volume wasn't impressive yesterday but the new flow shows accumulation with a very significant purchase recently.

It's one to watch but has yet to prove itself.

NR7 is seven day narrow range - a short term congestion that creates a coil effect.