CMQ 0.00% 8.3¢ chemeq limited

chart please, page-7

  1. 426 Posts.
    $5-60 is the strongest Resistance line in the area, and doing well at holding them. They look to be consolidating and thus regrouping for a rise, and that would take them to at least a battle of the $6-60 area line, whichis reasonably strong. But also likely to beat it anyway,a nd then make $7-30 area.
    As for keeping on going, I have no idea. That would need to be news powered I would think. And even ANY rise more than about $6-30 would likely need someones quite positive outlook.
    I tend to believe that rises such as the Retraces (like after the first main peak) are created due to market dynamics and nothing to do with real world reasons. Whereas to rise off a low area held, is powered by pre-accumulation and someones 'game' to make money OR real reason, either known or educated gamble.
    So CMQ are doing that latter 'accumulation' type shape and thus should result in the rise to come.

    There is always downside risk in any shares path - always 2 ways they can POSSIBLY go- and that is mid $4-50 area in CMQ. But chartwise, whilst they are in a key and sort of dangerous area (edge) whilst near $5-60, it appears to me that they ARE accumulating for that next rise phase.
    I would happily call a 'buy' on them right now. Odds look good. And a generous stop/loss of $5-25 area. BUT if that happened, to return to them once they stabilised, which would be $5 or $4-50 anyway.

 
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