While a good short term trade, odds are that the final pullback low is not in yet. Of course I could be wrong and it is these type of bear market rallies that always get the crowd bullish again. A move to new lows should be accompanied by bullish divergences in the indicators such as RSI and stochastics.
Lets also not forget the low came in with a bullish news story in Straits of Hormuz tension and rarely will a low come with good news just as a top will rarely come with bad news.
And finally I have a Top Secret Indicator that has a 100% strike rate so far on Hotcopper and it tells me 10c will be seen before the next big bull run occurs. What I have found in many cases is the sp comes down to just above my indicated level before rallying and then coming down to hit my level. So let's see how it performs with ARD.
El Capo
ARD Price at posting:
14.5¢ Sentiment: None Disclosure: Not Held
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