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14/11/22

16:22

Post #: 64762445
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Originally posted by Scooty: ↑

Happy to oblige with my take on the chart this past week ..... using indicators that I have adapted from others but seem the most reliable for me recently.

This is the Daily and I have marked where the Yellow 5WMA has moved to cross the Green 21EMA and without a capitulation in the after market today then we can say it tested the retrace and looked to have bounced off the 21EMA after a few attempts to cross it over the past few weeks.

The chart below is the Weekly which shows that massive run up and then the almost as fast run back down, most importantly, that 5WMA line (Yellow) hit and appears to have bounced off the 21EMA line (Green). I like that we have Daily and Weekly charts with the 5WMA just crossing over the 21EMA. I bought more recently as this was setting up, now happy to put the feet up and watch the action (we all hope).

In my opinion, and tempting as it would be in this market to take profits, the TA is not saying SELL at all. I must stress, that is my opinion only and I am far from an expert and even an expert would still apply the same caution! But I like what I see and I am very comfortable with my position increasing here.

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Thanks Scooty, but what are our higher targets besides 5.5 to 6.5 cents? In other words is the compression enough to push much higher?

LNR Price at posting: 3.8¢ Sentiment: Buy Disclosure: Held
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