I’m still wondering if we are seeing the same pattern play out...

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ralom

17,435 Posts.

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08/04/24

20:49

Post #: 73247054
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Originally posted by slick ↑

What have you got going here Ralom? A nice Aussie mining services company?

VYS....very nice numbers here.

Below is a brief overview keeping in mind that I have zero knowledge of the company nor what stage it is at.

Firstly here's a weekly which I regard as the most important time frame for long holders, displaying the excellent run holders have experienced over the past 12 months or so.
There are a couple of concerning signals that the chart is sending out regarding the immediate SP direction and I'll try and explain it clearly.
The SP broke out to the positive in September '22 (circled blue) where the SP trades above the bollie median line keeping in mind that while it's above that level the SP is always going up. It tested that level Feb/ March of 23 (blue circle) and again in Oct '23 but just kept bouncing off it to new highs. Just superb!
But here's the thing, since Feb of this year it's tested it again and unfortunately fallen through it. (red circle).
Unfortunately this indicates that the buying has become exhausted after a fantastic re-rate and holders may be closing out. MACD turning strongly negative supports this theory. (red lower chart). You can also see the red 50ema beginning to roll over. You really don't want to see the SP fall through that level but we can discuss that IF it happens.

Currently on the daily you're really just seeing a sideways pattern (kind of like a consolidation) with no real indications of any change of SP direction. Momentum is sideways for the time being. I think that the key numbers are .225 and .295 as that's an established range. Anything outside of that then we need to assess.

Not sure I'm telling you anything that you didn't already know Ralom but hopefully someone gets something from this. Happy to be corrected on anything from the above, we're all here to learn

Cheers

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I’m still wondering if we are seeing the same pattern play out as was between Sept - Nov last year .
A 10c or so rise occurred after that retracement .
28c close looks ok to me

VYS Price at posting: 28.0¢ Sentiment: None Disclosure: Held
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0 Great analysis

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