Chart Update, page-9286

Its hard to say... it is oversold on the RSI but it could simply stay in the mid 14 to high 14 range for a few days and then carry on its upwards trend. One needs to remember that the US market is breaking new all time highs on the daily and that money is flowing into our stocks. If you think this is overdone, look at FPH. I keep selling down tiny parcels on that because every week I say to myself... ok NOW its expensive beyond reasoning, but the following week, up it goes. As long as the fundamentals are doing great, looking at charts to time entry and exit will result in a loss. I sold some A2m the day following the AGM in case the price dropped after the director sales and I am regretting it now. Dont try and time the market is not said enough!!!
If I was to take a guess, I would say a close today between 14.7 and 15.00. If one ignores the RSI and just looks at the SP, we are only just a tiny bit above the 200 EMA. Just recently, A2m SP was 30% above EMA. That would equate to around 18.40 AUD. I am not saying it will get there but I wouldnt be surprised if it did. I am not a holder of BRG but look at what happened to their SP following the FEB results this year and look at the RSI. I have it on my watch-list and everyday it kept going up and up and up and up and up. The RSI was around 90 for a month or so.