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callmebreazy

64 Posts.

23/02/15

23:02

Post #: 14805121
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Originally posted by Toastman ↑

Bit of an update FWIW.

Potentially bullish day today, and a long-winded attempt to explain it below...

Today's bar has closed within 1c of Friday's - this may become a major support/resistance level, so a conservative view would be to expect this approximate zone to get tested - a low volume, narrow spread bar with all or most of the body below this closing level.

A really bullish scenario would be that it gaps away from those closes on open tomorrow, convincing holders not to sell and to hold on for later.

The other things to watch out for are further shakeouts or further selling.

The big volume contained in Thursday's bar won't have gone unnoticed by any entity looking to take up a big position. They won't be here to help you, that's for sure, so one must keep in mind that the SP could get driven further down the body of that massive bar, and more holders in weak positions get squeezed out.

Given the tight register, it is perhaps unlikely that further big sell-offs will come at this stage, but watch out for any further bars like Friday's, heading to a new high and then collapsing to the lows on massive volume. This would suggest that a large holder is distributing their stock to the eager masses, and at the moment, this cannot be ruled out for Friday's action yet.

I hold no stock but will watch how it pans out and a possible entry.

View attachment 46843

Expanded Gap Median:

View attachment 46850

Expand

Sheeeeeeezhhh! Next to Gudliness man!

Could you spread some vegemite on that!

CYP Price at posting: 87.0¢ Sentiment: Hold Disclosure: Held
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0 Great analysis

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Last 22.0¢		Change 0.000(0.00%)		Mkt cap ! $39.74M

Open	High	Low	Value	Volume
22.5¢	22.5¢	22.0¢	$15.63K	71K

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Price($)	Vol.	No.
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