QPM 3.03% 3.4¢ queensland pacific metals limited

QPM TA, page-34

  1. 1,089 Posts.
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    Volume plays a role in TA.
    Low volume share price appreciation is a good way to see the sp heading up and makes it worth a punt. With the increase of 15-20% hitting the biggest movers lists the day traders then flock in pushing us higher again - larger moves are made due to the lack of volume and number of traders coming onto the scene.

    The thing to read is the cross section of the charts where the triangle starts to join. ~roughly a drawn line along the lows and also above the highs will give fair indication, and factoring in rsi will allow further confirmation of in which way the sp will head ( oversold /up , overbought/down). Money cost index is another good indicator - similar to rsi

    Triangles are an easy way to predict the next 'leg'
    A break upward through triangle confirms upward movement and break out below triangle can confirm downward in which you should look for next support.

    If the sp trajectory wants to be predicted, switch to a candle chart , form a line above the highs of the wicks - thus giving a maximum increase.

    If new highs are being made there is not much restriction on sp movement. If there are 'lows /plateaus/consolidation' above the sp that will be the next point of resistance and a break through and a finish above that point confirms higher movement to come.

    Lows or bottoms are predicted by 'support levels' which are plateaus/ consolidation in the share price in which the share price has moved flat or dropped lower and bounced back.
    If support is broken , the next previous low in the chart is support -with a plateau being the main support (more shares traded in this case around 10c)

    Sp doesnt like even numbers - so to hit 19c will be the next resistance for myself. Thus why i set my guidance for that number with a 30% drop back from 19c to find consolidation at ~14c before our next leg up.

    All imo and highly speculative.
    A ann from Tesla will send this to $4+ so charts can play a fair role in prediction but the general movement and support comes from the quality of the business and how it is run and portrayed.
 
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