Gentlemen(and ladies), Have we not forgotten the lessons of GFC1??? Ignore Technical Analysis to your own peril!!! After making a profit several times on this seemingly "well supported" stock, I got caught out recently buying back in at 3.74 (I blame the "greed" part of my own nature here). But the moment a "well supported" stock dropped 20 cents all of a sudden, memories of GFC1 came flooding back & I sold all my holding at 3.52. The TA trend I identified made me sell. Thank God I did. For those who bought this below $3, I salute you. You now still have a Margin of Error before it reaches your buy price. This is an excellent stock/company but afterall it is Shareholder Sentiment that drives markets. The tide has turned, S.S. is well & truly negative with great fundamentals & balance sheets being overlooked. Looking forward to buying this one at around $1.50.
Best Wishes to all, TA is not akin to tea leaf reading. It's a self fulfilling prophecy i.e. there are an astounding amount of investors who believe in it & it is widely used by institutions. So do not ignore it!
SLR Price at posting:
$3.10 Sentiment: Sell Disclosure: Held
