CLH 0.00% 6.8¢ collection house limited

Dear Holders, I am probably terrible on the timing of this post...

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    Dear Holders,

    I am probably terrible on the timing of this post but I did some charts on it last week. Have no idea if it's bullish or bearish. One thing is certain and that is holder sentiment which is down the gurgler.

    I have found that most times, stocks with the worst sentiment generally go for a spike. In saying that, the only other certainty is the overall TREND of this company. Major downtrend.

    This chart below is a Daily, made on 15th April 2021 I believe BEFORE the market opened

    https://hotcopper.com.au/data/attachments/3102/3102278-bc22a62a51aa53ec649621c6436e3cd0.jpg

    General pattern recognition shows that when the stock "double bottoms" and loses the support, it sells off for an entire week. Not only that, the downtrendline seen in the orange appears to be a reliable placement since the stock has hit that level twice with some degree of respect. If that breakdown did occur I know that 15c to 17c would be a probabilistic level for a technical bounce.

    I did post on the Facebook Day Trading group for a potential counter-trend trade hence we may have seen a spike the next day on the 16th of April to get it up 3% on some radars. Maybe someone over there bought this without knowing much and took it based on a technical setup aswell?

    https://hotcopper.com.au/data/attachments/3102/3102284-a567bbb8993631a5209915e0a62e1f58.jpg

    Interestingly, there was a bidder at 22.5c. Next chart below highlights some of the RSI and Stochastic patterns. Almost works like a charm everytime!

    Chart below is still a Daily. RSI everytime hits the upper blue band, prices sell off, and the stochastics is generally flat at the bottom. It has done the pattern 4 times since February 2021. We now see 2 sharp spikes. I have NO IDEA what they are trying to do here. Perhaps a shot towards 25c?

    https://hotcopper.com.au/data/attachments/3102/3102285-bcafdff997854f10db061bfc8f597309.jpg

    Below shows the current buy and sell side after the markets closed on Friday. Buy depth appears stacked to get prices up towards those larger 100,000+ unit sell orders. Are they short sellers? Are they larger holders from 40c happy to take early tax loss selling? Sell In MAY, Go AWAY they say.

    https://hotcopper.com.au/data/attachments/3102/3102302-4966b00044809aeed50c8eb7da9797ab.jpg

    I hope I don't cause any confusion. I HAVE NO SENTIMENT here, just wanted to highlight the technical patterns observed. I would like to remain patient for that 7 day breakdown if it arrives. as it has been a consistent pattern capitalising off a multi day panic sell.

    If it can manage to hold, I would like to see WHAT it can do. There isn't too much meat on the upside which is my only concern due to the overall trend. Any decent spikes may be sold into as per the current trend it barely has a 1c daily move.

    Another concerning thing was on 15th April during pre-market, a seller was willing to offload 100k+ at 17c....that is a really interesting price point. That is all smile.png all the best for holders here as the future is uncertain just like this economic state we are in.

    Any other chartists feel free to post your contributions to get some ideas generated smile.png
 
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