DRE 6.67% 1.6¢ dreadnought resources ltd

DRE Chart, page-3154

  1. 14,621 Posts.
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    Hey there Scyb.

    Currently you have a couple of things indicating a positive short term. And they are:

    smile.png The SP is trading above the 8ema. Great first step.
    sneaky.png MACD has recently crossed positive after a couple of months in the wilderness.
    wink.png Each year we witness a Santa rally and the markets are generally joyful for a short period of time.

    For balance I'll add the negatives I see from the daily chart:

    mad.png The last 2 days have produced dojo candles which indicate indecision and they're not giving anything away in which direction they want to go. (traders hate dojo's.)
    redface.png And like a worm poking it's neck out above the ground, you see today the SP spiked above the bollie median to test the atmosphere and immediately found supply (sellers). Trapped supply is going to be a concern on this one I'm afraid.(happens on most stocks that have heavily retraced).

    Cheers.

    https://hotcopper.com.au/data/attachments/5726/5726303-d952b0dce0f0c988b6cdc42d300de2ff.jpg

 
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