SRT chart..., page-15

Just My opinion.

SRT Daily


While the doji at the top can possibly serve as a reversal signal ,it appears SRT has for now rejected it rather than followed on with a bearish candle.  Although It is obvious that  resistance at 2.8 was a problem, imo it merely produced a healthy opportunity to retrace towards the bottom tier if the trend (Pip traders and buyers from around and under 2 taking profit perhaps?).
The  important question or concern is whether the latest doji (today) was to facilitate distribution or was it accumulation ahead of the next leg up.  In that regard, i think today had a great outcome and setup for next week.  Will explain why  on the intraday chart as the daily doesn't provide enough hints , especially on what exact area  the buying/selling is happening during the day.

SRT Hourly


Observing the intraday hourly chart  equivalent to the last few daily candles.. it is more likely that the first two was distribution (selling off,taking profits, etc) while today's candle was more biased towards accumulation (buying in, topping up, taking a position).

This imo shows that with the buying support  at2.3/2.4 confirmed again today,  SRT should be able to retest 2.8 on monday/tuesday if no delays or TH is announced. And if it gets through.. then 3+ is a given.

Imo I mentioned a few times that I would prefer some of the churning and profit taking place before the acquisition  to create a better spring set up for us when it is announced and so far the last few days have been doing just that.  In simple terms, because of the shares changing hands recently, there is no giant bubble forming from those who purchased from as early as 1.4.

2.4 looks solid,  selling volume exhausted there so buyers will need to step up (which they are more likely to in the next few trading days  before the announcement).
SRTOA oppies are also looking solid with alot of big buyers stepping in 1.7-1.9



Only a few more trading days,
Have a great weekend