TA CHART, page-627

@perdant

Good luck all LTs here. I'm helping Perdy learn some TA. I have done absolutely zero FA here, that's Perdy's job if he chooses to invest. I have chosen to do this completely blind i.e. I have no idea what the company does, what the SOI is, what the MC is, what the latest announcement means, etc. My opinion is purely based off the charts and TA for Perdy's consideration.

Short term - The SP is in an uptrend channel. It moved on no news, and then appears to have some selling into the latest news, which is to be expected. The 50 EMA crossing back above the 200 EMA is generally a good sign. The 30 area has been well defended.




Medium Term

Green buy window - 9 out of 9 times i.e. 100% of the time the SP has bounced higher from this zone.
Yellow - Bearish double top after breaking through the red sell window.
Red sell window - 5 out of 7 times (incl the yellow DT1 and DT2) i.e.~70% of the time the SP retreats back to the green zone.
Orange H6 - SP currently trying to work out whether to attempt breakout or retreat back to green zone.



As a non-holder I'd consider a staggered entry such as:

To catch any upside
25% at H6 if you think the FA spts the TA.
25% at the yellow breakout zone.

The last 50% would be reserved for either a pullback into the green zone, or confirmation of a re-rate above the yellow zone.

GLTAH