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