any chartists willing to have a crack, page-2

Hi Auto

I'll put up a short and long term daily chart view of ROC:

Firstly the short term view, the last 4 days have been a very positive sequence showing buying strength to break the short term downtrend formed by those 3 previous highs, and the resistance presented by the 1st high at 48c. That 48c level has significance in the longer term picture as well (see 2nd chart). In the previous 3 highs, we have seen low volumes (circled in red) indicating lack of strength which weakens with each successive attempt, resulting in lower highs. Over the last wek though, we have seen much stronger volumes pushing price up, and in between days on low volume testing supply (Tuesday and Thursday long candle tails). For me Wednesday and Thursday represent a break and backtest of that ST downtrend, and yesterday a break of 48c. Any low volume backtesting from here is a good opportunity to buy imo.

The longer term view shows a partially closed gap from 62c to 48c (and notice how 48c has been approached several times since the gap down). Yesterday's high didnt quite get to the bottom of where that gap is now at around 52c. From there up to 62c its relatively clear air, but tat 62c level reprsents another significant level judging by interactions dating back to 2009.

All in all, a good low risk entry point here on any low volume back testing to 48c imo.

CHeers, Sharks.