Mr Gold, Slick, and just need Zior to make a return to DRE and...

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Green Bull

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7905

30/01/24

19:51

Post #: 72142813
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Originally posted by Mr.Gold ↑

yo @slicky boy,,, surprised to see you here to be honest.. what bought you here?... was looking at this today, bought to my attention... this thread seems more off track than the IMU chart thread mate, tarot cards and all

opportunity starting to present it self here IMO... awaiting a clearer confirmation... May consider first entry soon... AS you know I prefer to do around 5 entries on average, just to be safe...

ITs obvious DRE is in a strong bearish sentiment.. but the 30minute month chart may be offering a first entry potential for those considering entry or even just considering averaging down if you have a long term view.. clear bounce of 2 cent support

A few charts for those interested:

last 30 days, 30 minutes...

6 month chart showing start of potential breakout of current down trend.

12 month chart... extremely bearish, but looks to have bounced of 2 cent support and could easy gain momentum back to the likes of 3-4cents in the short term..

From a 12 month perspective you have to admit its bearish as a stock can get.... but sometimes this is where opportunity presents, my favourite saying of buy fear, sell the greed... :

Bearish Trend Warrants Caution, DRE appears to be in a strong bearish trend. Both the 200-day moving average and MACD histogram are falling.

Strong Bearish Momentum. The 14-period Slow Stochastic oscillator is below 20, the level which many analysts call oversold. This means that investors have been actively selling shares and driving the price lower. However IMO this could soon be on the turn..

Today's volume was lighter than usual. The On Balance Volume indicator (OBV) shows that longer term accumulation has given way to near term selling pressure by traders.

Recent High Volatility Signals Potential Pause in Trend.. Bollinger Bands use standard deviation of the closing price around a moving average to measure volatility. The Bollinger Bands are presently wider than usual, as a result of greater than normal volatility that accompanied the recent price move. Events such as this may precede a pause or reversal in the near term trend.

Personally I'm watching this keenly for a handful of entries... Seems extremely over sold...

Best wishes to current holders...

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Mr Gold, Slick, and just need Zior to make a return to DRE and we'll have the whole IMU heart club on DRE.

Zior was my favourite (but things can change) - from memory his last DRE posts/charts were pointing to a share price in 30-40c range? But yeah, NdPr price decline/junior sentiment ruined that a bit.

Anyway, don't think I've even seen anything like this (with the above 3 mentioned posters/chartists, plus plenty of others) that are all on one stock and all looking at another.

I'm not going to try and come up with any conspiracy theories and will just assume that both IMU & DRE are very appealing to chartists (as in drawing charts of them - clearly not appealing for all to buy yet...until the signals completely change?).

Cheers,

GB.

Last edited by Green Bull: 30/01/24

DRE Price at posting: 2.1¢ Sentiment: Buy Disclosure: Held
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0 Great analysis

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