CCC continental coal limited

Price has risen from 18c to 265c on daily corrections without...

  1. 831 Posts.


    Price has risen from 18c to 265c on daily corrections without any substantial correction a 44% rally on no meaningful correction

    The daily,weekly,monthly 20 period ma's are way behind at the 21c area.

    Bearish divergence off the stoch is can be seen on the previous rally (lower high from the osc where price made a higher high) accompanied with a minor fallout from the trend channel currently.

    Corrections are healthy and i'm ok to suggest there's one looming within this trend/excitement. The blow off tops many here speak off are towards the end of a move of which we arn't close to.

    These blow off tops/exhaustion gaps would normally occur post some form of wave count akin to Elliots 5 wave structure and i believe we haven’t even seen wave 2 draw down yet.(Assuming company integrity which may be a mistake from what I’ve read)

    So my unquestionable opinion is that a check in at daily/weekly/monthly mean is due which would also close the gap seen here.

    Troll








 
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