as far as where the chart could go from here, i think we'd wanna...

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DannyBiggs

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12/03/21

00:11

Post #: 51706316
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Originally posted by FlashPoint: ↑

Interesting I saw the potential double top in the chart as well, but in the face of the expected results, I didn’t react to it and then there was the TH in place anyway. So if someone did call the possible DT and sold their holding because of it, I tip my hat to you. However if you called the DT after the SP went down, IMO you’re simply a hindsight chartist.
Be that as it may, I don’t believe the chart reacted like it would after a run of the mill DT. There were other reasons for the violent reaction and IMHO it can’t be based on just the results announced either. IMO someone took the opportunity to swing their weight around dumping shares for a different reason, but possibly a substantial shareholder notice could put the spotlight onto that soonish to confirm what I just alluded to.
Anyway seeing that this is the charting thread I am a little surprised that there are very few posts trying to look into what the chart is could tell us and where things go from here. In any event there is a huge gap looking at us and usually punters alert to the fact that gaps in most cases need to be filled. Shouldn’t that apply in this case too? Today there was a candlestick formed, which had relatively low spread, but huge volume. Who absorbed all that supply of shares, because IMCO someone was holding the bag wide open and accumulated a lot of the supply? I can assure you, it wasn’t just me.
Anyway in the end and in combination with yesterday’s CS a bullish “Homing Pigeon” CS pattern formed, which does need confirmation tomorrow, but the equal closing price is giving us a hint to what might happen tomorrow.
Personally I only was holding a relatively small speculative position before the drop, but now it has taken on a more important position within my portfolio and I’m happy to build on it should my chart information confirm.

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as far as where the chart could go from here, i think we'd wanna wait until mid next week for it to settle a bit before you can start assessing a pattern.
not enough data there to make an informed call. even if the rsi cci etc are indicating oversold, its on big volume from a bailout event.
would like to see 1.7 hold st support and hit the 2s again
that gap will be a while off getting partially filled, let alone anything better.

CHK Price at posting: 1.7¢ Sentiment: Hold Disclosure: Held
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as far as where the chart could go from here, i think we'd wanna...

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