Ok revisited the original chart posted about a week or 2 ago as some have requested.
Basic structures unsurprising remain the same as before with the support and resistance areas. Yesterday we did break down out of the trend channel with a close at 0.046 on moderate volume (not heavy) but contrary to the predictions (perhaps wishes) of many chartist we did not end with a heavy volume red day but instead saw the entrance of strong support late in the day in the upper support zone. Instead we finished with a bullish "Hammer Candle" which indicate that the Sellers did not have the "umpf" to make it fall. To me it looks like a simple trend channel correction which and would not be surprised to see it close back in trend today. It remains to be seen if yesterdays low will give us a reference point from which a new perhaps parallel or flatter ascending outrigger trend line can be drawn.
![]()
- Forums
- ASX - By Stock
- RYG
- Charting RYG - Act 3
Charting RYG - Act 3
-
- There are more pages in this discussion • 330 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 RYG (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