ARL 2.56% 40.0¢ ardea resources limited

Amigos, I am trying to see if the charts can predict anything...

  1. 2,826 Posts.
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    Amigos, I am trying to see if the charts can predict anything about the future trend in ARL's current shareprice. As you may be aware, I like charts but am only a beginner. Anyway have a look at ARL's chart of the shareprice for the last 12 months. Please excuse the roughness. I can see 6 full waves since the low of mid-Sept last year, and they have a fairly regular period of around 6 weeks. At the moment we are in the 7th wave which, if the history is any guide, should come to an end in about a week. To me, the 7th wave at this stage looks to be different to the previous 6 waves. The proviso is that the shareprice can maintain a value above 37 cents (ie the price at the start of the wave). Now if it can keep its head above that level, then are we finally seeing the slow and steady turn around from the bear activity of the last cycle which lasted about 18 months? For all longterm shareholders, and you know who you are, it will be a huge relief!

    https://hotcopper.com.au/data/attachments/1678/1678513-dfb71ea8fc10714e60930d94489b23d8.jpg


 
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