I too am very Bullish on Sundance at present, more so now than I was before before and during the Hanlong debacle. A lot of milestones that have been met and the stink of Hanlong has been left behind now.
The current trading range and recent weakness is a common occurrence where the Bulls and Bears reach a stalemate and take a breather before the next onslaught (either direction).
the 10/10/13 was the initial breakout and confirmation of an intermediate term Bull run. Since then the Bears have been put back in their box and the Bulls had the ascendancy.
As Taboon and others have said this is only a short term retracement and IMHO an excellent opportunity for entry, re entry or adding to a position "upon confirmation" of another upleg forming. A break of .13 is IMO the confirmation required.
This is currently a rising (Bullish) trend, albeit trending sideways at present.
Review of SUNDANCE RESOURCES ORDINARY (SDL)as of 22/11/2013
Current Statistics
Open 0.1200
High 0.1200
Low 0.1100
Close 0.1150
Change -0.0050 (-4.17%)
Volume Traded: 11,736,080 shares.
The 9/21 weighted moving average crossover signal is bullish since it is trading above its signal line.
The 9/30 weighted moving average crossover signal is bullish since it is trading above its signal line.
The 21 day moving average crossed above its signal line 31 period(s) ago.
The 30 day moving average crossed above its signal line 30 period(s) ago.
Since the 9/21 WMA Buy signal, SUNDANCE RESOURCES ORDINARY's price has increased 49.35% , and has ranged from a low of 0.073 to a high of 0.140.
Since the 9/30WMA Bullish crossover signal, SUNDANCE RESOURCES ORDINARY's price has increased 53.33% , and has ranged from a low of 0.073 to a high of 0.140.
Not a bad return on your money in a month.
A break below .11 and I will stop out of my short term trade, but a break above .13 and I'm adding to my position. With a "target level" in the low .20's.
Looking forward to more upside.
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