daytrade diaries... february 2, page-5

Thanks HLL, Aksier & PJ. Absolutely agree with Aksier, many stocks I hold had very bullish charts over the W/E & after 1 day, most turned to bearish look. Still wary of the sustainability of last night rally, so caution still needed IMO.

Here are a few worth watching anyway:
AEM. Acquired Thailand coal project. JORC, FS report & mining approval are expected in ST before company considers share consolidation. Worth keeping an eye on volume.

ARO. Broke out of ascending triangle in strong volume on Fri (news soon?) & tested support at 1.3c yesterday thanks to Mr Global Panic. Next resistance at 1.5/1.6, 2 & then no significant resistance until 4-5c. Possible ST technical target of 2.4/2.5 (historical gap at 2.5 never filled), but thats if the OS mkt stops acting crazy.

MMZ. Recent strong volumes suggest news soon? SMA explosion could signal the shift of market flavour from biomed to tech sector? Still pending confirmation of ascending triangle breakout of 1.1. ST target 2, then no significant resistance until 2.5 & 3.2 (historical gap never filled). Stoch still looks bullish after the crossover. MACD is turning up & looking to cross soon. Positive divergences also forming on MACD histo. CMF only dipped slightly into negative territory after yesterdays broad mkt selloff & Acc/Dis line also bounced off support trendline strongly after the recent massive selling pressure from share conversion, indicating very strong buying interest.

RTL. Share issue approved, acquisition news soon? Hoping for ADO type push. Tough one on charts as the support trendline appears to be pierced through due to yesterdays selloff, although one can argue only 200k sold into 1.4 & yesterdays VWAP was 1.55, so 1.5/1.6 support may still hold today?

CEO (possible acquisition), LOM (African diamond play), CAG (acquisition of gold assets) & RMI all saw huge volume lately.

GL all
JL