good call, big profit taking trailing stop got hitlets see where...

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05/04/22

10:42

Post #: 60654011
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Originally posted by seagull: ↑

That's an interesting comment & while I agree that significant breakouts & a runaway sp may be hard to analyse, I have to disagree that the TA does not work in that scenario.
TA either works or it does not work. It does not give the option to pick & chose.
When the sp breaks out or breaks down the TA should if presented correctly give clues as to a price target up or down & why that target may be relevant.
If for instance, prev patterns, trend lines, support resistance lines etc were places where a reaction previously & repeatedly occurred then they should expected (but not religiously relied on) to do so again.

There is also more to TA than just looking at a chart with a couple of lines on it.
The TA takes into account indicators such as Stochastics MACD etc & in particular the volume.
These always give forewarning that a change is coming. Then it would depend on ones personal preference when action was taken to act on it.
Also the structure of the a candle or just the price bar gives plenty of hints as to what is happening behind the play.
All of these things are taken into account & from them one will make a decision based on that analysis.
I dont normally look at fundamentals in an initial eyeball of a chart but when there are runaway breakouts & rerating going on then those things would also be considered in looking at the TA stuff.

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good call, big profit taking
trailing stop got hit

lets see where it retraces back to

LKE Price at posting: $2.38 Sentiment: Buy Disclosure: Held
2 Upvote

0 Great analysis

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(20min delay)
Last 4.4¢		Change -0.003(6.38%)		Mkt cap ! $73.17M

Open	High	Low	Value	Volume
4.6¢	4.7¢	4.4¢	$269.8K	5.910M

Buyers (Bids)

No.	Vol.	Price($)
8	928680	4.4¢

Sellers (Offers)

Price($)	Vol.	No.
4.5¢	184688	2

View Market Depth

No.	Vol.	Price($)
1	60000	0.050
4	275222	0.045
8	938154	0.044
17	1736299	0.043
5	945237	0.042

Price($)	Vol.	No.
0.040	5000	1
0.042	106830	2
0.044	1007893	5
0.045	326688	5
0.046	402981	12

Last trade - 16.10pm 24/06/2024 (20 minute delay)

LKE (ASX) Chart

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good call, big profit taking trailing stop got hitlets see where...

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