Goblin Honey - one for you 'Toot toot!!
Another home run! Watch out $11.50 here we come (another ~10%).
Daily Trading Ideas (BellDirect)
Capilano Honey Ltd forms bullish "Ascending Continuation Triangle" chart pattern
Mar 13, 2015
Recognia has detected an "Ascending Continuation Triangle" chart pattern formed on Capilano Honey Ltd (CZZ:ASX). This bullish signal indicates that the stock price may rise from the close of 10.40 to the range of 11.40 - 11.70. The pattern formed over 18 days which is roughly the period of time in which the target price range may be achieved, according to standard principles of technical analysis.
Tells Me: The increasingly higher lows and constant highs within this pattern tell us that buyers are more aggressive than sellers, confirmed by a breakout through a resistance level to signal a continuation of the prior uptrend. An Ascending Triangle, with its increasingly higher lows and constant highs, indicates that buyers are more aggressive than sellers. The pattern typically forms because a supply of shares is available at a certain price, represented by the upper flat line. When the supply depletes, the shares quickly break out from the top trendline and move higher.
This bullish pattern can be seen on the following chart and was detected by Recognia proprietary pattern recognition technology.
Wow, just look at that volume from yesterday - double that of 9 Feb, the previous break out!!
It's shouting at the top of its voice "Toot toot - buy me before it's too late. Watch out, get out of the way, I'm about to blow."
For those that like to 'swing' (trade) in the medium term (for me this means weeks, not days or months) then now's the time to keep an eye on the technicals. I have a particular fetish for Bollinger Bands, but am also partial to mixing it with MACDs, Stochastics, RSIs etc for extreme indications of overbought.
I'm at the top of my allocation for this baby. Though it's hellishly tempting for me to grab a little bit more on the side, but I'd be breaking my own rules/limits. However, I may look at a partial (50%?) withdrawal if it goes gaga ape-shyte overbought, and look for re-entry on consolidation.
These are just my own kinky thoughts - every one to their own.
