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
-
- There are more pages in this discussion • 2 more messages in this thread...
You’re viewing a single post only. To view the entire thread just sign in or Join Now (FREE)
Featured News
Add HYD (ASX) to my watchlist
(20min delay)
|
|||||
Last
1.2¢ |
Change
0.000(0.00%) |
Mkt cap ! $3.050M |
Open | High | Low | Value | Volume |
1.2¢ | 1.2¢ | 1.2¢ | $421 | 35.10K |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
1 | 55863 | 1.2¢ |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
1.3¢ | 793674 | 2 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
1 | 55863 | 0.012 |
2 | 383416 | 0.011 |
1 | 300000 | 0.010 |
1 | 100000 | 0.009 |
2 | 190682 | 0.008 |
Price($) | Vol. | No. |
---|---|---|
0.013 | 793674 | 2 |
0.014 | 39999 | 1 |
0.015 | 180000 | 1 |
0.016 | 219124 | 3 |
0.017 | 250000 | 1 |
Last trade - 16.10pm 18/10/2024 (20 minute delay) ? |
Featured News
HYD (ASX) Chart |