Just another simple chart review from one of those currently "don't hold people".
With reference to the chart below:
- The extremely high volume Close of 352c on 19/01 which would have hopefully been support has turned into resistance following the continued selling that occurred after that date.
- The 200MA of the Close, and more importantly the high volume Close level of 290c on 03/10/2018 appear to have become the support level for the SP.
I would only be short term trading the stock using CFDs (about 30% margin long and short) until the 352c to 368c resistance area is broken. If the 200MA and the 290c level is broken significantly I would only be trading short.
My current trade plan is to enter long around 300c and on a confirmed "Trade-Swing" signal, with target price of 350c. Expected return is about 48% on the margin. Expected trade duration is around 7 days.
Hope this helps any "Hold and Hope" investors out there. Just a simple view of how a trader would be thinking re any positions to be taken with this stock.
![]()
Chart, page-7475
-
-
- There are more pages in this discussion • 15,992 more messages in this thread...
You’re viewing a single post only. To view the entire thread just sign in or Join Now (FREE)
Featured News
Add GXY (ASX) to my watchlist
Currently unlisted public company.
The Watchlist
1CG
ONE CLICK GROUP LIMITED
Mark Waller, MD
Mark Waller
MD
Previous Video
Next Video
SPONSORED BY The Market Online