Enova Mining - Charting/TA Thead - 3c target then 6.3c, page-1991

Back to square one?

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Yes it looks like, isn't it. Not a good week, a drop from 2.3 to 1.8. Couple of days back I had written, if we don't reverse from 2, we might play in the lower zone of 1.9 to 2.1. And it played out that way. Closing auction pushed us to 1.8, but play of 1.9 to 2.1 is open.

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So what is happening? Difficult to say. In this type of phase, where most play happens on hope and potential, it's usually very fragile. There is a very thin line between being optimistic or pessimistic. A slight sell can create anxiety for more to sell. Some buy create a lot of buys. This week, last 2 days, sellers had the upper hand.

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Last week I had written that we may not get the news this week. Somehow it played that way. Next week, there is decent chance but no certainty. Many get anxious before results, some want to play safe, I feel that is a big factor on how it's trading, rather than as if some are privy to results. The volume and drop would have been much larger if that was the case. But one can never say, so please check your risk reward.

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Personally I did buy some heads and oppies recently. My heads average is back to 1.7 from 1. 6

last week, oppies at 1.05. So nearly even at this stage. Watching intently, as I often write I am not very strong on fundamentals so try to follow price action. At this stage I don't know what may happen, I think it will be dependent on news.

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So what may happen next week? Not sure. Last week I was feeling more positive, honestly, I like to be open in my sentiment and words, and try to picture if I was not holding. This week it is very tentative. We need to hold 1.8 somehow. And get over 2.1. Then we will be back at square 2. Let's hope it plays out that way. Enjoy your weekend and all the best.