Just for fun look at this chart and tell me what its next move is likely to be.
The red candles are up days & green ones down days.
I would think to myself that this stock is having a great run up & looks set to continue.
Based on my box theory and incorporating some historic trend line angles which have been pretty good for the last six months I would also say that the sp is headed to the top of the box.
It is possible & normal to expect the sp to trade back to the start level of the box 7 at $0.13 before resuming the upward trend & It may also find a small resistance at $0.115 again before following one or two of the rising trend lines to reach the giddy heights of $0.10 at the top of the box were I would expect it to consolidate again for a while before continuing up again to the next level predicted by the range box to be at $0.068
That level also corresponds to the final gap to be filled between $0.069 to $0.046.
If this chart was looked at in a normal view as a stock having the great run up as a chart normally looks then I would be pretty happy atm.
Unfortunately this chart is inverted so my expectations of a continuation of the pattern are pretty scary and I have to say that if PSY does not pull the rabbit from the hat pretty quickly then we are in for some more painful times ahead.
If ever I was looking at a chart and hoping for a reversal of trend and a box failure then this is one of those times.
Good looking chart
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Last
1.4¢ |
Change
0.000(0.00%) |
Mkt cap ! $3.559M |
Open | High | Low | Value | Volume |
1.4¢ | 1.4¢ | 1.4¢ | $1.494K | 106.6K |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
2 | 840000 | 1.3¢ |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
1.5¢ | 850000 | 3 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
2 | 840000 | 0.013 |
2 | 577399 | 0.012 |
1 | 220000 | 0.011 |
2 | 400000 | 0.010 |
1 | 764356 | 0.009 |
Price($) | Vol. | No. |
---|---|---|
0.015 | 850000 | 3 |
0.016 | 96720 | 2 |
0.017 | 250000 | 1 |
0.018 | 200000 | 1 |
0.019 | 12500 | 1 |
Last trade - 12.29pm 16/07/2024 (20 minute delay) ? |
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