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$3.86 western areas limited

Well you were pretty bang on, double bottom @ 2.50 and now shes...

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282 Posts.

05/10/17

00:02

Post #: 27667947
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Originally posted by Samboy69 ↑

Got a mountain peak formed 2.70-2.90-2.70 with flatline for 3 days
An overdue correction from this 40% bullish runup could mean a retrace to 2.45-2.65 until the trend continues upwards.

a red hammer today 6c tail 2c body 2c wick meaning the shorting attack was smothered and another few intraday waves at open with a whipsaw open smackdown and rebound then flatline then at close a strange sharp selldown 2.75-2.71

so only 2 ways it can go, up to 2.90 or down to 2.45/2.55 with this ledge point of 2.70 seeming to be support forming. A dont expect these 17% of short held shares will wait around when they see another weakening of NP overnight, so expect a smackdown attempt yet again at open to 2.65 and then another rebound and then another selldown at daily highs much like today.

Something has to break the lack of trend eventually, surprised to see it this high after NP drop away so thats positive but seeing all this short interest selling (2.00-2.80 a neat 40% margin) and intraday selling smackdowns is worrying.

So now I am neutral.

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Well you were pretty bang on, double bottom @ 2.50 and now shes on the way up. Question is what will happen at the $3.00 mark?

WSA Price at posting: $2.92 Sentiment: None Disclosure: Held
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