Australia's largest stock trading and investment forum Australia's #1 stock forum

FFX

Click for more information

0.00%

20.0¢ firefinch limited

MLL Charting, page-2

First 2 Last

Share
Profile

Follow
16wrx

479 Posts.

129

13/09/20

22:57

Post #: 47306761
Share

Originally posted by JasmineTea: ↑

Hi all,

My key investment style is charting.

When I look at the chart I see lower highs. This is not encouraging for holding this stock long term.

In particular the key indicator for the next down turn appears to be RSI above 60.

It is clear as day over time that RSI has been a fantastic indicator for a downturn in the stock price in my opinion.

Hence reducing 50% of holdings based on RSI and charting appeared a sensible move at 17.5 cents and with hindsight clearly the smarter trade now the stock is at 16 cents.

Many risks still be resolved here. Mali political situation in my opinion is deteriorating and not improving.

Expand

As you’ve already said though you’re planning on buying back in via the share purchase plan.

Also, if you think it’s appropriate to draw trend lines back more than a decade then why not also project forward a couple months to where you clearly see the share price appreciating (otherwise why not sell your entire holding and why even mention buying into the SPP).

MLL Price at posting: 16.0¢ Sentiment: Buy Disclosure: Held
15 Upvote

0 Great analysis

Reply

There are more pages in this discussion • 46 more messages in this thread...

First 2 Last

Add FFX (ASX) to my watchlist