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OVH onevue holdings limited

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43.0¢

Sorry guys, I think the reason it broke down was because I...

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Jmax88

357 Posts.

181

12/09/18

04:26

Post #: 35535533
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Originally posted by Jmax88 ↑

I've been trading this stock for a while now with great success. Something I've noticed is on the weekly chart, it likes to retrace 61.8% of the range before reversing. We're right on the cusp of that condition which also coincides with the 200DMA and the bottom of the up-sloping trend channel.

I think BP's $1.34 projection is a bit ambitious... I can't project that high no matter what range I use, but what would I know....

As for downside, there is a gap at 74c which I would be disappointed to see filled. I find it unlikely we would head down there but I have seen stranger things. If we do break the trend channel and head down to that level, I would consider the uptrend failed and would change my sentiment.

I'm currently sitting on 1/2 position and may top up on Friday close.

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Sorry guys, I think the reason it broke down was because I bought on Friday afternoon. Typical.

Hopefully, this is just a gap-fill play. Still on modest volume and still a small retracement of the big range. Could see a retest of the 67-69c range.

OVH Price at posting: 75.5¢ Sentiment: Buy Disclosure: Held
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Sorry guys, I think the reason it broke down was because I...

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