CXS chemgenex pharmaceuticals ltd

calling all chartists

  1. 9,087 Posts.
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    Ok, what do you guys make of this?

    Overall sp is in an uptrend.
    MACD is still positive
    RSI above 50

    This stock has found support at both 38.2% & 50% Fib retracement and is a PERFECT example of Fib retracement.
    Also on the 21 day MA as it has done time and time again.

    Over 2.5 times daily volume today...even though it was a crosstrade. For every seller there is a buyer....or it could be directors just moving stock amongst accounts (ie ATQ recently ;)

    BUT....a doji today!

    I would think its unlikely to be calling this a top considering
    a) the all ords was down 68 points today and
    b) the amount of buyers waiting behind the share price.

    So...is it just a pause.

    Would a buy trigger at say $1.05 ( on volume) be a sensible idea for a swing trade?

    Fundies are great too!

    Thoughts plz :>

 
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