Update(graphically) of my Weekly chart posted on the 21st of Dec. Basically, what was seen then as a "low risk" probable entry zone just around the corner(with a little help from long standing "friends"...monsieurs Fibo and Gann)appears to have been correct. As of Friday's close the Wkly RSI crossed over its downtrend line and today's action hinting confirmation (close above 15.5c) may be seen as early as Friday that our 9 month correction has finished.
The daily chart(not included here)shows that we filled the break-away gap of March 2010 in late Dec.(with a gap down to create a resistance gap ... 13.5c/14.5c)on highish vol.(Demand) that has signalled reasonable accumulation between 12c/13.5c since. Today we see, also on reasonable vol. a filling of that gap and trade to the 15.5c 1st resistance level. Hence, as this 'sailor' sees ARD at present, we now have good support at 13.5c/12c and all we need is a close above 15.5c to signal the resumption of our longer-term trend.
ARD Price at posting:
14.5¢ Sentiment: Hold Disclosure: Held
A personalised tool to help users track selected stocks. Delivering real-time notifications on price updates, announcements, and performance stats on each to help make informed investment decisions.
(20min delay)