Lets get it around, page-53

Always surprised at 'deep' TA talk that doesn't include a chart only  waffle of doom confirmed by some author /guru,
whereas stick up a chart and  you have clarity.

Anyhow this is the weekly KNL for 18 mnths. I've added in some EMA's. Don't use them much. Have that clutter effect,squggly lines,tack in some of the indicators like MACD,RSI and your "vision" loses clarity

So as has been previously discussed SP is in the past Buying Zone.
The Break of the Trend Line is of High Indication that this is NOT a time to Buy
BUT it is a time for Close Watch for a Reversal. One uses the Daily maybe even the Hourly for that.
Buying the "Falling Knife" say at 17/15  risks sp falling further with every cent drop being over 5%
a " pip". so if it does go to 12 you'd be 20/30% down way past a sensible stop loss.

So Pilgrims to Mammon  the RISK of some overnight news  giving an Opening Gap up back into the 20's Reversal, The RAH RAH   Fear of Missing Out FOMO Buy
must be weighed against Falling Knife "Philosophy".

As to whether you should Sell your current Hold with some "plan" to buy back lower? Depends on what price you hold from and what Proportion of your Capital is involved.
I hold five Graphite shares. If all ALL of them went out the door Closed Suspended worth NIL I'd lose 25%ish of my Capital Base. If only one like KNL went Zero I'd lose about 5%. Disappointing but not a Disaster.

Yes the Graphite Sector is out of it's Halcyon Days. There are similarities with Rare Earth fad but differences too but Pilgrims especially follow the Rule not to speculate with money you can't afford to lose
like if you have say $50/100 grand in a single Graphite best have about a Million $'s Liquid.Risk/Money Mgt Theory a definite for DYOR FA and TAer.

Anyhow a reversal would be Confirmed by this Week  trading above 21ish on support line AND Back on Trend AND above 30 week MA. The daily has different price points [17/19]
Could this happen?
well the gossip around the traps/street is that the Medicare Float has sucked the staggering money out of the speccies like Graphite. Seems Tuesday the allocations to the over subscribed Float are announced? some time frame like that Tuesday this week.
Anyhow way beyond the MNS JORC the market is panting on Medicare and we await to see IF  some positive sp action returns to Graphite speculation.
A Reversal Pattern.


happy trading.