Ok so apparently i upset someone with reasonable posts so lets try some technical anaysis
RSI = Over 60 and rising - approaching overbrought land ( ie selling pressures rising)
Support 8c up 14% today hodling above the second support line at 10c
Chakin Money flow over 1 - supportive in the medium term
Has risen above the 11 day moving average - indicates tomorrow it should come back to 10.5c or thereabouts
MACD is back under 0 on 11 and 21 and 31 day basis ( points to money flowing out even leading up to an up day - further evidence of an exhaustion rally)
Bollinger bands becoming tight - indicates reversal of trend supportive to the upside to 13c
OBV back to 0 indicating neither money bidding up nor down - netural in the 20 day average
30 day momentum indicator back to 0 indicating volumes are falling and will probably continue to fall
Overall it supports my view that 6-8c trading range with limited medium term apart from exhaustion rallies and the lack of big buyer stepping up day per day and the chart supports this view.
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FDL
flinders diamonds limited
Ok so apparently i upset someone with reasonable posts so lets...
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