W2V. Just saying' cos I have been picked up on this a fair bit on my TA.
Closed at 3.1c. Every day for the past 5 days the entire rise in the SP, after the opening pump up, has been more than sold completely sold off. Considering that many retailers are buying and holding, that means that there is considerable distribution going on.
And just as an exercise for comparing TA trading with buying and holding. Using the 5 day 5 min chart below.
If you started with a buy at 2c on Tuesday and sold when the SP spiked into o'bought at 2.5c. And then continued to buy at the retrace lows on the chart and sell at o'bought/rollover levels, then without too much trouble there is 4.1c to be had. Or the equivalent of buying at 2c and selling at 6.1c. Compared to buying at 2c and holding atm at 3.1c.
You might say this is 'in theory' but actually it was quite doable. I took a few bites but was put off cos it's been o'bought on the daily all the time. It just happens that it's been a perfect trading stock and a very good example of using TA.
The other important thing is that the holds aren't too long and no onite so risk is quite low.
Just something to consider in contrast to the 'just buy cos this is going to the moon brigade.'
