Pessimism vs Optimism, page-65

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kyngdominion

2,421 Posts.

1857

16/05/20

13:28

Post #: 44655685
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Originally posted by sleekbeak ↑

Don't know if I'm right but It seems that the opinions of Jack and Kyng re where the CHN sp
is headed is not all that different. Both seem to think that sp is going to have a correction. The
only difference is that Jack thinks it will be imminent whereas Kyng thinks there could be another
(small) leg up before the correction comes.

I don't follow LEG but read Kyng's comment and went and saw the LEG chart.
The pattern similarity with the CHN chart is clear.

Kyng attributes the LEG drop to topping at a certain cap level.
From 0.21 to 0.13 is a massive drop.
The big red bar on the 22/4 coincides with the release of results stating "massive sulphides" blah blah etc.
all seemingly positive with an opening price 14% higher than previous day's close and then it was all the way
down from there.
Was it classic case of buy the news and sell the fact ???
I don't know the reason for the significant red bars on the 01/5 and 12/5 but they seem to be catalysts
of LEG's downward movements.

I think I have made a bad decision to enter CHN at $1.23.
Without a doubt now this was an amateurish entry on my part.
I have had several opportunities to since exit breakeven and have not taken them.
Amateurish again.

I'm thinking that unless the next news that comes out is spectacular
ie. provides significant improvement in the knowledge we already have,
there's a good chance that the next news will be sold off even if positive
in its nature.

I don't know if there is anything to give good up front indication what
the results will be in the two much anticipated DD holes. Please enlighten
me anyone in the know

I also think that now that with it's recently boosted war chest, the market knows that Julimar
is going to be made swiss cheese in the coming months and therefore it can now afford to wait
a bit longer for more certainty before choosing whether or not to boost the cap.
I think Alex has said that there is still a lot of work to be done.

There have been lots of opinions here that sp is going straight to two bucks I am now
reconsidering my position in the stock at the moment given my poor entry together
with level of downside risk. Who knows what Monday will bring.

Expand

CHN Weekly chart below clawed its way back into the upward channel and pennant with a long lower wick....extremely bullish IMO ...given the fact it was a CR week....

LEG weekly chart - the sell was the Doji or inverted hammer that fell just outside the upward ascending channel line with a long upper wick last week then a doji .....with confirmation the following week with a big down week.....AIMO DYOR

Last edited by kyngdominion: 16/05/20

CHN Price at posting: $1.22 Sentiment: Buy Disclosure: Held
3 Upvote

1 Great analysis

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