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1.3¢ carly holdings limited

CL8 chart, page-207

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trickyonthebeach

1,871 Posts.

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28/01/16

18:53

Post #: 16888457
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Originally posted by Baa_Baa ↑

Well that wasn't quite the result you'd hope for after what I thought was a pretty darn good quarterly, but a couple of things happened that are significant on the chart, illustrating market sentiment.

Starting out with noting that today's share price action has absolutely no precedent or resemblance to any share price action previously.

Firstly, it seems those holding solely for the uptick on an announce, which didn't happen for whatever reason, decided to bail (weak hands, disappointed traders etc) ... it touched down 'perfectly' on .21 support briefly,

then;

Secondly ... rebounding back 'perfectly' to solid .24 support, right on the rising trend line and 180MA. That's a really good signal of how shareholdings have shifted from the short term speculators to the longer term holders.

I think the strong hands are finally in control of this company. There's been a long period of accumulation and holding so it stands to reason that the current holders are committed and won't be letting their shares go at the slightest sniff of price weakness.

Go long, go hard, CL8 will pay off, big time. I'm certain of that.

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Post of the day.

CL8 Price at posting: 2.4¢ Sentiment: Buy Disclosure: Held
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0 Great analysis

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