SLX 4.17% $6.25 silex systems limited

Daily chart shows SLX retesting its 50-day SMA, and of more...

  1. YLJ
    819 Posts.
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    Daily chart shows SLX retesting its 50-day SMA, and of more relevance to me,
    a somewhat complex inverted H&S.
    Attempted a break early in the day today but volume did not seem to confirm
    (even by now, it has not surpassed its 30-day average volume).
    and it has fizzled out. I will look for an entry if it pushes again with some
    volume behind it. The measured target for the pattern is circa 3.71 and I would
    place a stop-loss below the 50 SMA. This would give a roughly 1:2 risk-reward
    ration, depending on the timing of the entry.
    A break of the low of the right-shoulder (2.73) would constitute a H&S Failure and
    would imply further downside.
    All in IMHO.
    GLTA
    Last edited by YLJ: 17/11/22
 
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