There is nothing wrong with challenging the buy/hold sentiment, but I agree that the endless posts with limited facts/meaningful discussion has become tiresome now.
From a charting perspective, it seems that today's price rise may be an attempt to close the break down gap created on the daily chart last week, coupled with some buyer's returning given the new financial year.
I remain very cautious and still don't believe a buy (even for a short term/day trade) is presenting itself. Price needs to achieve a close above 0.076 as a first step towards reversal, after which time a close above the 200EMA is needed. MACD is still below the zero line which further supports the thought that this may only be a short term bounce initially. Many more weeks of consolidation/stabilization is required in my opinion before a buy signal is confirmed.
All IMO. GLTAH.
JAT Price at posting:
6.9¢ Sentiment: None Disclosure: Not Held
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