IDC 0.00% 0.0¢ indochine mining limited

Captain When you refer to 'candlesticking', I assume you mean...

  1. 168 Posts.
    Captain

    When you refer to 'candlesticking', I assume you mean Japanese Candlestick patterns used in technical analysis of charts, not the other form of candlesticking not to be talked about on a stock forum. If so, yes, I am aware of candlestick patterns with intriguing names such as Shooting Star, Dark Cloud Cover and Doji to mention but a few. If Candlesticks are your thing, as you would be aware, they should be used in conjunction with other forms of technical analysis tools, such as RSI, MACD, Stochastic and other preferred volume and momentum indicators. However, most if not all Technical Analysis chartists, are also aware that Fundamental Analysis plays a very important part in a stock like IDC, where so much money has been raised and spent with no gold production and the company operating in PNG where the local landowners are the inherent natural owners of the asset and at the end of the day have the final (or large say) in whether the company succeeds. I would suggest that this important aspect of IDC cannot be analyzed on a chart. If dark clouds gather, and the price action goes down, as you would know, the price level can easily drop well below any support and resistance lines that may have been drawn on a chart. It has been known for people to average in on a falling share price that goes to zero. As for your other comments, I will not be drawn into personal attacks by posters but rather stick to the facts and the issues that require addressing and fixing by management.
    I don't know which court case you are referring to as the big white elephant, as there are a few of them, but some company disclosure may be in order regarding the case before the court (per SP), regarding 4.7 million dollars (currently more than the company has) by the former CEO as reported in the SMH. If it was not reported by the SMH, I assume no one would be aware of this issue at all, as there has been nothing said by management. I am not aware of a candlestick pattern name for that, but the Hammer or the Hanging Man come to mind. However, I assume that most holders of IDC are not day traders, but long term holders that do not watch candlesticks all day, but have seen a significant fall in share price while watching more shares being issued at lower prices and with free attaching options that makes the share price even lower if you factor them. Options have even been issued to management at zero strike price - free shares, and the asset pledged as collateral despite distress debt type interest rates of 25 to 30 percent. These fundamental facts are more important to the long term holder than candlestick patterns. . Good luck with your charts Captain
 
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