HCH 1.91% 80.0¢ hot chili limited

Breakout Chart, page-57

  1. 1,461 Posts.
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    Spent a bit more time going over the TA this weekend as I finally had some time. A little longer to go. Jan is the month the ST trend changes imo. I want to see a nice low to plot the primary trend line. The move up "could" be explosive with Feb / March being the breakout we have all been waiting for especially now some of the main fundamental risks have been accounted for.
    I've plotted the days of consolidation after each leg up too as some wonder why it continually drifts lower. Take the average consolidation from each leg up and you can see the current consolidation timeframe is pretty normal.

    Why it pops once recent highs are passed? Is because there "should" be little resistance or selling into any buying strength aka "free air" above the 5.0c range as shown in the second chart on the left hand side. Price discovery can take effect. If you are new to investing/trading then the safest bet is waiting for the previous high to be broken, on volume, as long as the SP closes above current resistance identified.
    I have left out the moving averages on purpose as it gets a bit cluttered. Suffice to say all of them are still well above the 200ma.

    I could write up a shitload more but really the main crew here know the story well and are long anyway.

    Signing off from the thread till mid - late Jan. Have a great xmas and bring on the Copper super cycle.
    All in my opinion and not advice etc etc.

    https://hotcopper.com.au/data/attachments/2748/2748385-3bb6561e50ec8905fa989c06fd128750.jpg

    https://hotcopper.com.au/data/attachments/2748/2748373-253cdc42cd03dc4177e2f51aee7e0a12.jpg

 
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80.0¢
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