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$1.57 silver lake resources limited

SLR Chart, page-841

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Pointyfigures

1,642 Posts.

2389

23/07/21

17:07

Post #: 54729529
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Originally posted by Pointyfigures: ↑

No wucking furries.
My trading chart shows SLR pulled up at resistance.
I expect it to hold here till there is a decisive move in POG.
A 15% reversal is not a problem and quite possible before taking out resistance.
.

.The short term chart speaks volumes.
From the yellow 3 there is a beginning rising diagonal then a blue higher high.
It hit resistance, pulled back then created a double top.
The double top did little more than push price back to trend for another confirmation of strength of the rising trend.
A short term buy signal at $1.54 then bounce from support to resistance on the chart above.
.
This is not advice but there is potential for a pull back and the price range I would be looking at for an entry is between $1.57 and $1.62.
These are support levels and confirm the continuing rising trend Would also allow the stock to have some momentum when trying to break out on the chart above.
.

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So I bought leveraged longs at $1.60.
Was not expecting the dramatic pull back so a bit slow off the mark. Busy doing other things.
Pulled up beautifully at $1.57 and joins a list of producers that have pulled back to trend.
The sector looks primed for a decisive move to the upside.

SLR Price at posting: $1.62 Sentiment: Buy Disclosure: Held
10 Upvote

1 Great analysis

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