In between football games I've been doing my TA of SRI. With the...

In between football games I've been doing my TA of SRI. With the SPP finished, selling pressure should begin abating. From its high last October SRI has bounced around a channel between support just above 8 cents and resistance at 12 cents. This is the same on both daily and weekly charts. Interestingly one could argue that a long term uptrend from it low last May remains intact. In my view the 12c resistance and a smaller one at 13 could well be breached prior to any results, after that lots of potential blue sky. As I have a decent slab of capital in this one I intend protect it with a trailing stop and take some profit along the way. I?ll be relying on TA much more to avoid selling too early or getting stopped out unnecessarily (John345 mentioned the risk of selling too early)
For newbies heres why I see the blue sky

http://asx.com.au/asxpdf/20100406/pdf/31pmnk462rt8lj.pdf

RSI(14) currently 44

Anyway, here?s a couple of charts for interest or comment.(Daily and weekly)



Cheers

Oscar

All IMO DYOR