4DS Chart for Long Term Holders, page-131

Update to 4DS Weekly Chart:

The last three weeks price and volume action has seen the SP fall each week but on significantly lower volume each week, which is a good sign. The SP is still well above the long term uptrend support line which is still just above the 5c level. The short term stochastic cycle indicator continued to head down and now is in the oversold range below 20. The WaveTrend longer term momentum indicator is turning flat after just reaching the zero level. It's hard to tell whether or not the SP has broken below the short term trend line support drawn on the chart but if continued sideways trading continues this trend line will be removed if broken. The strong resistance at 7.2c is still in play. As you can see, there isn’t anything to get excited about on the weekly chart.



Update to 4DS Daily Multiple Moving Averages Chart:

The SP is still in an uptrend but the trend can be expected to be tested this week. The long term MMAs are well spread and still headed up and now surround the 200 SMA. The 4DS SP has in the past respected both the 200 SMA, currently at 6.45c, and the longest period MMA which is currently at 6.3c. A Close below both of these levels would suggest further weakness in the SP. The first bounce of the short term MMAs failed and they are now headed down again to test the resolve of the 4DS Investors. All in all the daily chart suggest that in the absence of good or spectacular new News, further sideways to downward price action can be expected in the near future.

Until next week or so, good luck everyone. All IMO of course.