Hi Suzanne - it's very difficult to follow the conversation here as I can't see who you are replying to but I'm guessing that the issue is from somebody not understanding what support or resistance is. As you've alluded to - support and resistance are areas where lower risk entries or exits can be made. So in the example of LOM - 39c is a support region where a stop loss could be kept a little below. If it gets hit - no big deal. But if it doesn't and price propels upwards then money can me made from that swing no matter how small or large.
I don't know why people here try and rewrite the rules on what support or resistance represents (but I'd be very wary of the motives behind such views). After all the importance of S&R are agreed upon on all walks of technical traders from small time traders to multi-bilion dollar hedge funds.
@mitta @Timmyk - Good call questioning accumulation here. The broker data and announcement last night certainly quickly debunked the claims of accumulation.
As we know accumulation happens in trading ranges - and is evidenced by increase in volume on upmoves and pull backs on lower volume. Clearly no trading range exists here at the moment.
One rule of thumb on Hotcopper in general that I've noticed: "Accumulation" is usually claimed by some investors who are in love with a stock and are attempting to prevent people from selling. Usually thse claims are accompanied with hints that they have the inside scoop which of course is rarely the truth.
All IMO.
