ESG 0.00% 86.5¢ eastern star gas limited

welcome to $1, page-59

  1. 1,800 Posts.
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    I can understand your opinion about winetraders comments, however this has been a perfect trading stock till now. And not burned many short term traders I would think. I got back in at 85 early last week based on charting purely and have bought more in the last few days to add to my position since reading about share sale to STO. A balance of fundamentals and technicals is the best in my mind.

    Chartwise this has blue sky potential for now... No resistance above. The psychology to trading it in my mind from now is " who would sell now with all the hype and news to back that hype up!" As we saw on Friday. Most would think a late Friday afternoon profit taking sell down, however, the majority are now holding: for a takeover offer OR at least more hype and buying.

    Not sure how well chart reading can help when there is an obvious party trying to keep the price down, causing artificial patterns. That said, I can't see how they could hold it back for much longer without it being a very expensive exercise. It's not as if ESG management are going to use the current SP to base a potential take-over price on... Are they ?
 
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