60 cents target in 6 months, page-17

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1990

05/09/15

18:07

Post #: 15941913
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Originally posted by markeewan ↑

Ivan,

I got my protractor out and want to comment about Beadles chart history just to provide my perspective on how useful TA can be.

1. Any holder at point 1 should have exited at around 70 cents as the price broke through support.
2. There was a retest of 70 cents resistance level that failed and the price broke through the 60 cents support.
3. Price continued to fall to 20 cents where it bounced. A counter trend trade existed here for the brave but it could not breach the trendline and the share price continued on its downward path, finally breaking through support at 20 cents to end up at 11.5 cents.
4. Share price is in a long term downtrend and there is no technical reason for anyone to purchase after point 1.

You indicated that TA is BS, but it would have got holders out at 70 cents and preserved capital. For the risk averse it is still too early to re enter in my opinion.

I am not a holder and am not looking to hold, I came across one of the threads where holders were bleating about management and the poor share price performance and I chose to look more closely at the chart.

Sorry about the poor quality chart it is the best I had available.
View attachment 93527

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No I have no info on a CR but have seen it many times before where unexplained price weakness is followed by a CR .
I keep going on about it as I just can't see how that would risk the next 5 months without one. I only offer an opinion, please never take my posts as anything more than that , just contributing to the conversation. I am proven to correct or totally wrong . I have always tried to explain my view through the use of real BDR numbers

BDR Price at posting: 11.5¢ Sentiment: Hold Disclosure: Not Held
4 Upvote

0 Great analysis

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60 cents target in 6 months, page-17

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