OXR oxiana limited

Howdy ectoplasm,and allJust my 2 cents worth on the charting...

  1. 807 Posts.
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    Howdy ectoplasm,and all
    Just my 2 cents worth on the charting side of things.
    Yesterdays action has me thinking that downside pressure is likely - even if only for a couple of days.
    I see that it has breached the lower channel line, but only just.
    The indicators I use also suggest limited upside in the very short term.
    The MACD is pointing down as is the stochastics.
    The rsi is mid range, so less helpful.
    The fibonacci ranges I use to predict targets suggest to me support at 3-71 if things get rough next week.
    Ultimately the top of my expected ranges is $5-50, so overall I am very bullish, a pull back would give a great opportunity to accumulate more IMHO.
    Oh and by the way I see a big inverse head and shoulder pattern, wich also would give a projected target over over $5-00. Can any one else see this??? Or do I need more coffee...lol
    Daily chart looks like this.
    I hold this stock.
    Cheers
    Commy

 
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