Ckk today has done a dragonfly formation on rising volume.This is quite a strong bullish reversal sign and may herald another run up.
From a fractal point of view, a similar bar formed on 20/11/2009 after completing a rally - consolidation form [ 2/11/2009 - 20/11/2009 ] almost identical to the current rally - consolidation form [ beginning 3/3/2010 ].
If CKK follows a similar fractal pattern then I would expect that the current formation that has developed over the past week to be a potential shoulder formation which may be preceding a developing sharp rally typical of a head formation once again similar to that which occurred between 20/11/2009 and 26/11/2009.
Not quite sure how to publish an image here, so for any keen chartists it may be worth to check a chart for CKK to validate the observation that I have posted here
- Forums
- ASX - By Stock
- CKK
- search for new energy deep & meaningful
search for new energy deep & meaningful, page-6
-
- There are more pages in this discussion • 17 more messages in this thread...
You’re viewing a single post only. To view the entire thread just sign in or Join Now (FREE)