I like posting charts when there is potential at the time for either bulls or bears, depending on what the chart says. I do not like posting charts when I feel it is too late in the trend. It is better to give playmates the chance of looking at charts which may have potential in their trend, although all playmates must carry out their own research as I do not advise anyone.
Back to SGL let's read the chart - the fall which started on 7/10/04 with a close of $1.10 then has been very substantial, however on the 24/6/05 there was a failure swing which you can see on the chart which was confirmed on the 27/6/05. Since then there have been higher swing lows. The 18/7 being a very important swing low after the price gapped down that day, then there was a failure swing high on 10/8 which gave playmates the chance of another crack at the share. There was a another swinglow on 25/8 which was higher than the previous swing low mentioned above, this is obvious from the chart, then there was a positive breakout on the 31/8 and at present the price is describing a possible change of trend to the upside. It is early days but I personally like this chart formation as if this share does recover it could have substantial upside. It looks to me as if moods are afoot to improve the situation relative to this company. Best wishes playmates B2
SGL Price at posting:
0.0¢ Sentiment: None Disclosure: Not Held
