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chrisveedub

149 Posts.

03/06/15

15:22

Post #: 15405436
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Originally posted by marty386 ↑

No offence taken.
I'm of the opinion that all stock no matter size, have an underlying psychology (that of the buyers and sellers) that is mapped out in the charts. Think of charts as a map of the human brain.
The same patterns happen over and over again, penny stocks have their own set of patterns that are slightly different to larger stocks.
For LWP there was the 3 day euphoria that led to the large rise, the last day was buyers climax followed by the dump, happens almost every week. Sellers are now dwindling, as evidenced by the rounded bottom. The FA is still strong for this stock, hence the return of the buyers.
We are currently in a situation where flags and pennants are playing out unusually more often than normal, i believe this is because the psychology of the market is slightly shi

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LWP Price at posting: 1.4¢ Sentiment: Buy Disclosure: Held
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