daytrade diaries... wednesday, page-169

SHL:

well the last 3 sessions its been a bottoming process. The moving avgs crossed, MACD crossed and from positive toward zero or slight negativity. oscillators suggest oversold, RSI at the bottom of its usual range now.

yesterday we hit the low 12.90s and bounced; today we hit 12.80s and bounced back into the next support level in the 12.90s; Finished the day again ABOVE key support on the range above 13.00; Finished the day close to its high; Needs to break 13.10 conclusively (today it went to 13.12 but fell back down).

I think its in the process of having bottommed for now coz its back up above 13.00 and closed near its high and resistence at 13.10.

Bottom line is it bounced two days in a row off the key supports on the chart, and if it breaks 13.10 and then 13.25, then we're in business for it to go all the way back up to 13.80s-90s

Its due to report soon tho -26thm feb i think; report shld have no major suprises, but the low AUD may make for something extra?? 10% EPS growth after dilution (thats post dilution of recent raising!) Impressive in this environment!