Good looking chart, page-2

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P$Ychic

518 Posts.

03/07/15

12:07

Post #: 15575988
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Originally posted by seagull ↑

Just for fun look at this chart and tell me what its next move is likely to be.
The red candles are up days & green ones down days.

I would think to myself that this stock is having a great run up & looks set to continue.

Based on my box theory and incorporating some historic trend line angles which have been pretty good for the last six months I would also say that the sp is headed to the top of the box.

It is possible & normal to expect the sp to trade back to the start level of the box 7 at $0.13 before resuming the upward trend & It may also find a small resistance at $0.115 again before following one or two of the rising trend lines to reach the giddy heights of $0.10 at the top of the box were I would expect it to consolidate again for a while before continuing up again to the next level predicted by the range box to be at $0.068
That level also corresponds to the final gap to be filled between $0.069 to $0.046.

If this chart was looked at in a normal view as a stock having the great run up as a chart normally looks then I would be pretty happy atm.
Unfortunately this chart is inverted so my expectations of a continuation of the pattern are pretty scary and I have to say that if PSY does not pull the rabbit from the hat pretty quickly then we are in for some more painful times ahead.

If ever I was looking at a chart and hoping for a reversal of trend and a box failure then this is one of those times.
View attachment 76690

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Haha.. very creative, well done Seagull. Though if this was indeed on a uptrend the chart looks like it's weakening & about ready to take a turn... imo

I guess we are all reading between the lines on what yesterday's news meant, along with todays directors options cancellation.

Maybe wishful thinking, but on a positive note, this could be a case of buy the bad news and sell the good... ??

HD

PSY Price at posting: 12.5¢ Sentiment: None Disclosure: Held
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Add HYD (ASX) to my watchlist

(20min delay)
Last 1.4¢		Change 0.000(0.00%)		Mkt cap ! $3.559M

Open	High	Low	Value	Volume
1.4¢	1.4¢	1.4¢	$1.494K	106.6K

Buyers (Bids)

No.	Vol.	Price($)
2	840000	1.3¢

Sellers (Offers)

Price($)	Vol.	No.
1.5¢	850000	3

View Market Depth

No.	Vol.	Price($)
2	840000	0.013
2	577399	0.012
1	220000	0.011
2	400000	0.010
1	764356	0.009

Price($)	Vol.	No.
0.015	850000	3
0.016	96720	2
0.017	250000	1
0.018	200000	1
0.019	12500	1

Last trade - 12.29pm 16/07/2024 (20 minute delay)

HYD (ASX) Chart

Good looking chart, page-2

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Good looking chart, page-2

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