FFX 0.00% 20.0¢ firefinch limited

BGS...Chart, page-9

  1. 2,785 Posts.
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    Confluence of indicators;
    FA mcap is $50mill at 26c.
    TA retracement is 50% of last rise at 26c.
    Previous lowest low is 26c- support level.

    With maybe 6-8 weeks before the main drilling results for resource calculations and continuous selling since drill started, the composite operator may want to break the 26 support level to test for supply, unless there is some volume buying at this 26c level.

    With another 2 months of uncertainty it could go either way from this conjunction. So I'll just be watching and holding while the market does its thing and gives some certainty. But I expect reversal into uptrend at this level, for the high probability uptrend scenario of all things considered.

    26c could be the support low to buy at, or the point to sell at, or a buy spring below this.

    The 24c raise level of 42% absolute below the previous high, could be part of the spring, but this would be a worry going down this low around the high of 23.5c, as it means it is in continual medium term down trend to test the 20c level and the 15c level. Such is the buying level most would have averaged in for this rise. Which in this present down trend, which is showing no signs of reversal, seems like the way of the market to scare holders into selling.

    Technically if this happens the uptrend is a broken and I will be sad, but still alive to live my addiction of allocating money into similar stocks for high reward/risk results, to vibrate with the laws of growth and realise the results, in my retirement.

    Sentiment changed to none from buy, at this critical conjunction level.
 
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