Dear o dear - a chart thread but no chart, how sad is that !!!!
Well thought I'd add a few charts.
Both charts are daily (eod) charts. The first chart shows a classic retrace and rebound in up trend setup. It scared me a bit because its just so obvious. The fib projection target price for the next up impulse move is 220c. I got a buy setup condition signal yesterday and buy trigger today. As the setup was so obvious I decided to have a look at where the prior high volume price levels fell. Apart from the obvious, that is the Close of 14/03 at about 100c, the other levels seem to fall in the green shaded area on the chart, between 122c and 140c. So best case is that the SP breaks out and goes to 220c, worst case is that the SP breaks below 116c (the Low of 17/04) and goes to 100c, the most probable case I think is that the SP will continue sideways in the previous mentioned range for a while and then break out into a new impulse move upwards.
The suggested MC if COB moves to the target of 220c is around 258M. My review of the other COB FA threads suggests that this higher MC still undervalues COB somewhat, so I guess the target price is quite feasible in the medium term.
View attachment 1073311
The second chart displays my two momentum indicators MOM (short term momentum) and WDmom (longer term momentum). As yo can see MOM has bottomed and crossed up, and WDmom is flat but still looking positive. All the MAs and EMAs on the chart are headed up and hence my trend indicator is green indicating up.
View attachment 1073317
Lets hope the SP continues its upward trend.
Good luck everyone.
