You dont need to look for formations in charts, just use common sense.
Anything that goes up like the LPT's have over the past 2 weeks (almost vertical) is sure as day follows night going to come screeming back down very soon.
Only hot gambling money sends stocks up like this in such a short period when no fundamental change has occurred with the underlying debt problem that had been previously shredding the share prices.
Small shareholders should be back on the sidelines in cash and leave the instos to fry at the top of this big bounce but of course its always the other way around it seems. The punters think it will all rebound 20% next week and will stand there in the headlights taking all the stock getting dumped out on them by the big hitters.
Lets just hope that its not long before we have another ripper run like this one.
GMG Price at posting:
24.5¢ Sentiment: None Disclosure: Not Held
A personalised tool to help users track selected stocks. Delivering real-time notifications on price updates, announcements, and performance stats on each to help make informed investment decisions.
(20min delay)