T.A. is great but unfortunately it can't predict market reactions or over reactions. What the chart is telling me at the moment is resistance at 0.60c. And even though it has risen over the 0.60c it wont hold, which is why I was thinking about taking profits today. I believe further news is needed or stronger market sentiment to keep it above this point.
Support level is at 0.46 - 0.48c and at worst 0.40 - 0.42c. Of course this depends on market sentiment, sometimes we see stocks oversold/overdone as I felt with IFM, hence I made a profit by taking advantage of the low price. Other than that consolidation at 0.51c.
I rely on charts more than anything, they can give great insight to most stocks but do not tell the future, that is how I got into SLT to begin with. The moving averages had converged and an uptrend was forming, this was a good indication that investors were taking interest and the addage of further growth was possible.
Now we leave it up to the market to decide.
I bid you all a goodnight and may you be blessed with greater fortunes.
Cheers, Ace.
SLT Price at posting:
0.0¢ Sentiment: None Disclosure: Not Held
