re: **about to fall off the perch again**(chart) SCD, thanks for your feedback - but I can't help but think you have mis - interpreted my comments a little on oxr.
Firstly I hardly ever dwell on fundamental issues as I believe that T/A tells us the about the market physcology. (and the market is always right)
I have witnessed too many times companies with good fundamentals releasing good reports only to see the shareprice suffer and vice versa. Hence my posts are almost always based on T/A alone.I make no apologies on that score.
Now in regards to the chart I was actually trying to say that I dont believe oxr will fall to 76c.
I highlighted the long term uptrend and pointed out how I could see why 76c is an important price in respect to where the trend line runs ie. if the stock fell to 76c it would be on the support line and I would probably buy it (as long as the technical indicators confirmed). As such it is also a price many other T/A's would be looking at as a support.
I then when on to say and I quote:
"However it is hard to see oxr tumble straight down to the support line from here, it looks oversold to me (but what I think really does not matter) - the market will decide.
It is fair to say that the shareprice may not retest the support line for many months and when it does it may be considerably higher than anything in the 70c range."
So what I was alluding to here is that I think oxr will find support and move on from here,the retest of the long term trend line probably will happen later and at a higher price.
Regards
Commy
OXR
oxiana limited
