weekly close under 40c and 35c then 30c... pulled my order at...

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24/03/16

10:17

Post #: 17353003

Originally posted by Silvermarc ↑

Blackham Resources Ltd forms bearish "Head and Shoulders Top" chart pattern
Mar 23, 2016
Recognia has detected a "Head and Shoulders Top" chart pattern formed on Blackham Resources Ltd (BLK:ASX). This bearish signal indicates that the stock price may fall from the close of 0.41 to the range of 0.25 - 0.29. The pattern formed over 33 days which is roughly the period of time in which the target price range may be achieved, according to standard principles of technical analysis.
Tells Me: The price seems to have reached the end of a period of "distribution" at the top of a major uptrend; the break down through support signals a reversal to a new downtrend. The Head and Shoulders Top is created by three successive rallies in the price following a significant uptrend. The highest high (head) is in the middle, flanked by two lower highs (shoulders) at roughly the same level. Volume is highest as the price makes the first two rallies, then diminishes through the right shoulder. Finally volume surges as the price closes below the neckline (drawn between the two lows) to confirm the reversal.
This bearish pattern can be seen on the following chart and was detected by Recognia proprietary pattern recognition technology.

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weekly close under 40c and 35c then 30c... pulled my order at 40c

I will wait for mid-low 30s and GOld tumbles near 1180-90 range... At least the AUD will sell off heavily as well...