Zia, you have been an avid follower of the ggp charting threads and I have always meant to thank you for your input and appreciative comments! It's great knowing people appreciate and understand what We (chartists) are trying to say...
Acreage,
"before the auction starts,i just wanted too clarify one point. Are we after a close higher than the support level of 2.4 ( close at 2.5 ) or do we need a close higher than yesterdays close of 2.5 ? Are we looking for a close of 2.6 to set the trigger for a run ???"
...............
For a successful test we are looking for professional support of the share price, therefore on a low volume supply test (yesterday) we are looking for the share price to close higher the following day (today) confirming the lack of supply and confirmation of sm looking to push prices higher... We were looking for a close of 2.6c today to confirm a successful test... However, this won't necessarily trigger a run... It does warrant a push to higher prices but as you can see on my chart from yesterday the breakout doesn't always happen instantly...
Mc-trader,
"I think the close has to be higher than 2.5 - 2.6 looks to be strong no auction action anyway. Funny, we usually get an annoying sell a few ticks under at this time. "
.................
Spot on!
Acreage,
"Great finish and hopefully confirms ewob and erichmj predictions of 2.4 support being confirmed and the big one, a trigger for a run up to .03."
.........
Correct mate, 2.4c support is confirmed. But I can't guarantee a push to 3c... The successful test does however warrant a push for the st (short term) resistance @ 2.8c...
Acreage,
"For what it's worth,Aussiebulls have a "buy confirmed " on todays chart."
..............
That's funny! I think if I remember correctly they had a sell signal the last time I had a buy signal...?
Johnnyd9'
"TA wise
MACD remains positive Fast stochs at 71 - so more to go RSI - 60.5 - so again plenty of upside left in te rally MFI - 55 even better
There is no sign of the stock being overheated"
...............
Always like seeing the other TA points of view, thanks mate...!
GGP Price at posting:
2.6¢ Sentiment: Buy Disclosure: Held
