The problem with these computer generated technical sites is that they can't actually recommend a buy or sell point. In the case of this one for OBJ, if all the indicators are in negative it'll generate a sell and so it's in a self perpetuating spiral of death. The only thing it does tell you are the support levels, in this case are 0.021 and 0.020, we are there are now. There is nothing there about about volume except for average volume. So I see this as nothing as scare mongering and an attempt to get in at a even lower price.
What I'm looking for is some sign of selling supply (volume) running out. I can tell you there is a sign of that now with the Accumulation/Distribution indicator bottoming and beginning to increase in value (but our friend above won't show you that).
My own software is actually telling me that there are 7 bullish indicators on OBJ and 9 bearish. However the one I put most faith on is one that tries to use some intelligence algorithm to pick the buy/sell. The last time it provided advice was a sell back in July 2017 at 0.054 cents (last time I sold any was at 0.051c). It's never come back with a buy since. I'm just waiting for this to turn now. Could happen anytime imo. As soon as it does I'll be buying.
- Forums
- ASX - By Stock
- so 0.01x range on its way?
The problem with these computer generated technical sites is...
Featured News
Add WFL (ASX) to my watchlist
(20min delay)
|
|||||
Last
0.3¢ |
Change
0.000(0.00%) |
Mkt cap ! $1.478M |
Open | High | Low | Value | Volume |
0.0¢ | 0.0¢ | 0.0¢ | $0 | 0 |
Featured News
WFL (ASX) Chart |
Day chart unavailable
The Watchlist
ACW
ACTINOGEN MEDICAL LIMITED
Will Souter, CFO
Will Souter
CFO
Previous Video
Next Video
SPONSORED BY The Market Online