thoughts for the new week, page-51

Comments...

Strong bounce from the 76.4% Fibonacci retrace of 8.9cents which was my original target low when the price was around the same level as today's. Charts mean nothing remember?

Bounce up bit too strong IMO... lots of energy has now been used up... Would have been much better if it was a slower ascent without the gaps and on gradually increasing volume. Broke through my original upper median estimate of 12c (thanks to some excellent story telling here IMO)

Weighted stochs rolling over... Selling pressure could be early profit takers however. So possibly could see a second attempt to push through resistance.

A break and close above approx 19.5 to 20c would be majorly significant tho IMO.

Lots of buy side propping going on which is concerning IMO... Signals "sharks" selling to the "plankton" or that's how they want it to look... take your pick...

Think about it this way, why signal your intentions of buying by placing large bid orders way below the existing sell price? "computer says... no"

Vwap today 15.48c and closed below it at 15 so now lots of buyers locked into losing positions... (potentially bearish)

Some musings below.

PS. My charting is utterly non-conventional and definitely not to be used as investment advice.