CCF 4.35% 12.0¢ carbon conscious limited

CCF Chart

  1. 7,432 Posts.
    A Chart.I'm not too "happy" with channels and forks so can't 'swear' to the accuracy of these ones as TA purist.
    ccf_ax14oct15_to_18jan16.png
    Main TA looming is Gap Theory closing of the 11.5/13 gap. I consider this a Continuation Gap based on FA change so not to be closed but recent 'dumping' in volume by T3'ers suggests it may close today or tomorrow.
    Many thread posts suggest there are many buyers waiting at 10/12 so 11/12 should prove a bounce point if hit.
    IMO it won't be IF the China Sharemarket doesn't further 'fail'.

    Anyhow my charting programme doesn't do very good intraday 20min charts. Doesn't show Volumes in reproduction but one can get some idea  of possible resistance lines/prices
    20min ccf.png
    So "ideally" today could bounce for a close 14.5 better 15. this would estab 15 as maybe support and cease the 10% stop loss at 13.5.
    A Return by Friday Close to the 15/17.5 Range would be "calming" in preparation for up coming news re financial details of Green Lakes Deal ie Profit Sharing. Such news should issue by end of January. With it or soon after no doubt, a Company Presentation will happen.
    Also End Of January the Qtrlys Cash and Activities to 31st December issue. These contain only info previously released, not price sensitive usually. Do give Cash Burn (Admin exps etc) and some FA basics.

    Anyhow IMO the picture is that a return to 15 and support there should settle the chart  turbulence[downtrend] in prep for more FA facts to issue end of month.
    Happy Trading.

    .
 
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