Coles Myer is a classic example of how tops become bottoms, often easiest to see on monthly charts; especially noteworthy where they form mid points of the previous range. I believe this chart speaks for itself. I also feel qualified to comment on this chart as EIS traded these mid points. So this has not just been commented upon in hindsight.

If history is to repeat, one would have to call CML up for another repeat range run. There's a caveat on this though. It's too late in the business decade cycle for me to get excited about buying at $8. Especially having seen Solly Lew exit when he did. The monthly trend however is up.