Short Term Trading Week Starting: 1st Aug, page-380

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TraderNin

3,944 Posts.

13

03/08/16

22:51

Post #: 18439390
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Originally posted by pilsner ↑

Hi TraderNin,
No real need for a chart as Nambo has already provided in the posts above along with some projected commentary that looks spot on to me.
Couple of things to add would be.
Positives:
very subtle early signs here on the 1 hrly chart that an attempt of a rally is about to happen. The attempt needs to close above and hold 2.3-2.4c in the following days to be successful. If successful confirmation should come by way of further buyers arriving around the 8th to the 10th aug to further push for a test of the previous ST lower high at 2.7c
Negatives:
Daily cycle appears to me to be negative through to the end of August at the earliest. that aligns/confirms more to the chart price following Nambos suggested chart lines of Yellow, blue, pink intersect and circa 1.8-1.9c call. Chart Harmonics if you believe in such things "suggest" 16c is "potentially" a definitive low. So from the TA presented you can see just like in the chart behaviour and SP at the moment there are some serious guess's going on in the background in the brains behind the trading screens with people trying to pick this next low pivot. Between you me and the gatepost I let other people do the guessing now and buy when I get a solid confirmed signal for continuation.

Personally not knowing anything about the stock and if looking at entering for a potential STT I would suggest to give it till a least late September to see how it has developed/consolidated or as its still is and always will be a LT buy off a weekly candle backtest of .025c after a next serious breakout. I would set a trading alert with your broker to get a heads up email when it next trades at that price of 2.5c, As from my point of view it has one of those monster chart signatures in the indicators and when its ready its ready to have a crack there will be plenty of bags init and its one I wouldn't want to miss.

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Thanks again pilsner much appreciated
3 Upvote

0 Great analysis

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