losty some chart voodoo for you.I posted a couple on the weekend...

losty some chart voodoo for you.

I posted a couple on the weekend charting thread. This one shows a longer term view. The red trendline on the chart and the MACD shows negative divergence indicating the run up may have been running out of steam. A trend change followed. Now notice the light blue trend lines under the share price and the MACD and shorter term the histogram showing positive divergence which may be indicating we are close to the bottom and another trend change is coming. The shaded boxes indicate similar mini basing patterns before a rally. 35c is long term support and resistance from 2008.




I'm speculating that we are close to a bottom if not the bottom and used this chart and another shorter term chart to get an entry on wednesday. This is against the trend so if I'm wrong and this doesn't play out I have stops in place and am prepared to buy back in lower so I don't end up being one of those bitter traders :-)

Dr D. love your work. I don't think anyone doubts the potential here, some of us are just using different strategies to try for a better entry. We're all here for one thing after all and thats making money from oportunity, not warm showers with MEO :-)

Rhodes