'Telsa'... Is that the Chinese knock-off version of a Tesla...

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07/11/19

11:09

Post #: 41293634
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Originally posted by aysxtrader: ↑

Now worries polly.
The only usual thing that happens is that after a 90 MA breakout a share deservedly graduates onto brokers, day traders and sophisticated investors watch lists. That is if they are on the ball.
A share breaks through it's 90 D MA once buying momentum has picked up and demand outstrips supply.
Our resistance price was approx 19.5 - 20c and we've surpassed that, entering a bracket of support and resistance from 20 - 26c, relatively.
Although the event is only young, the traders and brokers could begin to accumulate more and they could push it beyond 26c.
The point and figure analysts observe for numerous days and turn on a dime if signalled to do so.
Some of them would sell and square off a profit while some could proceed to short the share at which time it will trade in the lower regions of the 20 -26 price channel. Traders would wait for momentum again and you would see speculators pushing it up and down for 5-10% gains until it reaches the upper bracket at 26c again. 90D MA breakouts are exciting in this way and attract a lot of fluctuation and you end up with a dead-cat or a spike.
If you take a look on my chart at what happened last time it broke through the 90 D MA you'll get an idea of how it fluctuated shortly after breaching it due to the shorters and traders. Consensus momentum pushed on towards 50c soon after.
This time around we are dealing with less speculation of news and rumour so I doubt it will go that high until the first 1/4 2020. That being said we do know it has de-risked a lot since May 2016, so this time around it has earned a better class of investor, with more confidence and and larger long and shorts positions alike should begin to appear.
If I was a betting man I'd say we will retest 26 ver coming days, maybe hit 27 - 28 and then see the shorters at work for a few days as they examine whether or not 26 will become the new support price. This could go on for weeks until the current 26c resistance is well and truly broken and it becomes the support price instead. It's a bit confusing, but it sinks in after a bit of practice.

I am but one thinker on these matters and the Hot Copper day trader or chartist pages would offer you a greater variety of opinions should you ask for their input. Cheerio.

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'Telsa'... Is that the Chinese knock-off version of a Tesla Kevo? Haha

INR Price at posting: 25.5¢ Sentiment: Hold Disclosure: Held
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Last 21.8¢		Change -0.008(3.33%)		Mkt cap ! $526.0M

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