So the question for any trader/investor invariably is always: "are you prepared to risk the down side for the upside?
A few comments on the current price action:
*Firstly, the sellers today were smaller into larger parcels - Make of this what you will
*We are still firmly in the uptrend - This is not a crash, sell off, falling off a cliff etc
*We have only seen ONCE in the current trend 3 consecutive down days
*We have seen (since the intimal rerating on the 04/06) 3 retracements in the current trend:
1st - $0.46 - $0.312 - 32%
2nd - $0.48 - $0.355 - 26%
Current $0.905 - $0.71- 22%
Now these include intraday day low/highs. The other important note is that almost without exception, in the current trend (04/06 onwards) the down days have been much lower volume, evidenced again in the last two days by volume being below the 30MA.
LNG retraced twice at 32% on its way up - Its now broken out again closing at $2.77 - Case in point.
My conditional stop is at $0.66 (which would represent a 60% profit in 4 weeks - More than happy with that should it come to fruition), which would represent a 27% retracement form the $0.905, the next would be at $0.60, showing a clean break for the current trend channels lower band and representing the greatest retracement yet at 33%.
This stock has performed exceptionally well in a short time, and its patterns are becoming very predictable. What is also predictable is the trend upwards on good news, which I expect to be tomorrow.
I also expect tomorrow to be an up day (even without news) as it looks to consolidate in the $0.75 - $0.80 range.
The uneducated & ignorant posters on this forum calling the demise of TON and its share price are greatly amusing.
On my trading strategy I'm out at $0.66, however I don't believe we will get there - But hey, I could be wrong and that's why you have a strategy right?
Cheers
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Last
1.1¢ |
Change
0.001(5.00%) |
Mkt cap ! $15.68M |
Open | High | Low | Value | Volume |
1.0¢ | 1.1¢ | 1.0¢ | $93 | 9.277K |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
2 | 1028019 | 1.0¢ |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
1.1¢ | 524000 | 2 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
2 | 1028019 | 0.010 |
6 | 1002111 | 0.009 |
5 | 10485363 | 0.008 |
4 | 795619 | 0.007 |
5 | 1216475 | 0.006 |
Price($) | Vol. | No. |
---|---|---|
0.011 | 524000 | 2 |
0.012 | 1290516 | 9 |
0.013 | 700000 | 3 |
0.014 | 1299399 | 2 |
0.015 | 1163644 | 4 |
Last trade - 12.18pm 17/10/2024 (20 minute delay) ? |
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Simon Kidston, Non Executive Director
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