PEK 2.38% 21.5¢ peak rare earths limited

week three jan 2012, page-6

  1. 7,432 Posts.


    So Parabolic trendline maintained.An Open at 42 cents would further confirm.
    Approaching another gap based Resistance 47/47.5
    A non gap Opening would imho be preferred but the forecast result upgrade will work the exuberance and we might even get a 45/47 Open.

    Such an opening price would indicate an evening star,trend reversal in the normal course of events.

    The parabolic trend currently would break down and one calculation of retrace is to the 150 EMA currently 38.54.
    A return to the 150EMA would also "encourage" close of today's Gap and likely past resistance 37/37.5 would turn into support preventing the 35/35.5 closing.

    So tomorrow may shape as making a decision for Short Term Sell.
    28cents to 47 cents is 67.8%.A very enticing short term return,hey?

    what tomorrow may bring is to each his own.
    cheers
 
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