Good work in reviving this old thread out of the archives Z and thanks for an informative chart ewob I do like the way you look at charts and the indicators you use.
I had planned to post a chart earlier today but because I haven't done one for so long and have had my mind focussed on far way places I had to reeducate myself on how to make it happen so apologies for the delay.
Put simply the chart and sp have been negative since my last post on this thread but hey you all know that, on a positive note the sp was always looking for support and found it at .014 which just happens to be a reasonably sold support area from as far back as 1004 so with that level tested and rejected I believe support is now confirmed at .016 (if only I had some spare coin)
The move over the past three days is impressive and encouraging but we've seen it before so it now needs to be confirmed, I won't be surprised to see some retracement tomorrow (particularly with the M Cup distracting local markets) but we will hopefully have a much clearer technical picture by weeks end however my favorite indicators have all turned positive giving buy signals starting on Friday 28th.
I use a candlestick chart with MMA (multiple moving average) overlaid with red being bullish and blue bearish, the tighter the banding at the point of intersection the stronger the likely move, the next chart is a slow stochastic where I am looking for a cross, my fast stochastic crossed on Friday, the bottom is simply volume with a red day indicating a sp fall and green a sp rise.
ewob has a far more sophisticated system of volume measurement that he mentions from time to time.
I suspect that todays price movement came from people here but I could easily be wrong, as always we are reliant on news flow but I see the involvement of Bell Potter as a major positive so as always
I'm Excited
Toski
NWZ Price at posting:
2.1¢ Sentiment: Buy Disclosure: Held
