Short Term Trading Week Starting: 22 Jan, page-354

First 354 Last

Share
Profile

Follow
syzygy

3,529 Posts.

249

25/01/18

00:41

Post #: 30549775
Share

Originally posted by gamefisherman ↑

Hi Xin

No problems, happy to help. I think as the broad market has behaved over the last 6-8 trading days in many of the lower cap stocks that hedge funds, brokerage houses have lightened their level of exposure in certain stocks. On the flip side, a large broker could also be selling down some of their holdings but accumulate at the same time as stops are hit. Looks to me that there has been some solid profit taking over the last week.
There is solid support around the 10c to 11c mark, and I like that the last two trading days low of 11c has held. It is not exactly the setup for a possible breakout from the triangle that you correctly highlighted, however I have not taken any FA into consideration which may help to explain the goings on at present.
That Dominant Candle 1 and 2 are strong. I dont like the current Dominant candle however again the last two trading days there has been some indecision in the market from buyers and sellers and some more supply also drawn out.
If it was me I would not be concerned to much about the recent sell off due to overall market behaviour at that end of the world. If the FA is good then the chart has already shown recently how quickly price can rocket upward.

Please DYOR as this is not a buy or sell recommendation
Cheers
GF

View attachment 936769

Expand

Gamefishermen

had a quiet chuckle when I saw you use the phrase - mockingly - 'the overall market behaviour at the end of the world,' as it echoes the sentiment in the two charts that @diverdan sent me today, which speak for themselves.

It reminds me of what the humble gardener said when he was asked what he would do if the world was to end tomorrow.
"Continue hoeing my garden."

Not that major correction can't occur.

Last edited by syzygy: 25/01/18
4 Upvote

0 Great analysis

Reply

Top Stories

I88

Infini soars 50% as company reveals it could’ve just made uranium history – redefining what it means to be “high grade”

AII

Almonty locks in govt agreement for tungsten oxide plant in South Korea

Bitcoin investors need to know the risks

MDI

Nanocap Middle Island Resources kicks off Barkly copper-gold drill run – a potential IOCG-style NT project

NIM

Nimy to raise $1.21M to explore 'newsy' WA targets