Is something brewing?
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Yes a much better week, moved 20% from 3.5 to 4.2. Volume moderate, not a very strong one, at least till now.
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So what is happening? Strong play this week, only comparatively though. Still played 3.5 couple of days, but broke 4.3, a small resistance today, though came down and finished below that. Still much better play, but considering 16.5 was the high only recently, a long way to go.
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Personally I let go my stocks that I bought recently in mid 3s. After what has happened, trying to play safe now. Last week my average was 6, this week went up to 7, but on a smaller volume which I am carrying from 10c. The buy and sell helped reduce the average from 10 to 7 on same number of stocks. I will see how it goes next week.
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So what may happen next week? If we can carry the momentum of last 2 days, that may indicate something is brewing. Crossing 5,getting towards 6. Otherwise it could be some traders playing up. But a good week, and hopefully we get some confirmation of recovery next week. Enjoy your weekend and all the best.
(20min delay)