AUL austar gold limited

chart, page-27

  1. 2,403 Posts.
    Must say the chart is looking really quite good after today's action. Up to you whether you call today's candle a hammer or a white spinning top. Either way, with a relatively tight range and small volume this suggests a significant lack of supply IMO.

    Incredibly, the SP is holding up extremely well on no announcement. I had a support line at around 7.7c (which is also around the 50% fib line) but it didn't get touched. Very interesting. With no announcement you'd usually expect some more retracement than that (I know erich was calling the 61.8% fib line). Very bullish IMO.

    I see some people are trying to call this a 'pump and dump'. My only question is: Where is the dump? The price is still up 88% on last week's lows and supply looks to have dried up considerably.

    Time and time again after a rally I look for a candle that represents a tight range on lowish volume, normally within 5 days of the high. Perhaps today's candle is it.

    Looking forward to see what happens on Tuesday and the rest of next week. Very bullish signs all over this IMO.

    Anyways, all IMHO, DYOR.

    Here's to a great 2012 for MNM!
 
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