chart for talktome 14th of nov

WARNING!

The following post contains zero fundamental value, and if you are a long term IPL lover, please look away now. As this post is very neg.

AND THESE ARE ONLY MY HUMBLE OPINIONS, DO NOT FOLLOW ME!




















Hi Talktome,

Here it is, last time, while she was outside of this trend channel in July, she was out for about one week, and she got back in right the way. Now she is inside this downtrend pricing channel, we have had 3 lower lows, and 3 lower highs already on the blue coloured pricing channel.

She gapped up on the 24th of July and ralled hard, all the way to $3.42, and on the 5th of Nov, she rebounded right on that gap, tried to use that as a support, BUT, only managed to hit resistant as shown on my RED pricing channel or the blue down pricing channel created another lower high.

In short, she is "nowhere". Buying her now is like trying to catch a falling knife. Maybe the $2.50 will hold again, but I doubted. I think she will head lower. Personally, if she falls under $2.50 you could open a "short" position for her and short her to $2.25 target.

To go "long", I think she has to get out of this Blue pricing downtrend channel, and get back inside this Red one, to go Long I much rather pay $2.82 and have a crach at her, I like to buy high and sell higher.