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PB, how are you bud? It's been a while. You lot flooded by tourists yet down there? Hopefully we can break this decline for good and get back to a decent price soon. A breakout may attract some new blood. We definitely need a bit of loving from the market again.
Technical update for those who are interested. I posted a couple of days ago about the possible reversal of the down trend. We have now firmly broken through the down trend channel that's been in place since the beginning of the year. Price has now formed a higher low, which was confirmed by the higher high. Significantly we've reclaimed the 50MA (pink line) and we're now running up against the 38.2% Fib retracement at 43.50 which was also previous support (now turned resistance). Momentum is looking strong with a rising MACD about to cross the zero line. There is also an impending 8/34EMA cross coming up (yellow over white), which will attract technical traders. Break through this level and the next significant resistance is around 50p. I suspect we may see a back test of the top of that channel before breaking through the immediate resistance. I'd like to see more volume building so hopefully we can keep the RNSs coming! ATB https://www.tradingview.com/x/VSQNLsQG/
Finally threatening to break out of the 6 month down trend/long term falling wedge. Still some overhead horizontal resistance at this level and contained below the 50MA (pink line), but there are good signs. Momentum is starting to look strong with the rising MACD cross-over. There is also an impending 8/34EMA cross over (yellow line over the white line) on the horizon which will attract technical traders. I think 21p is a key resistance level to break. ATB https://www.tradingview.com/x/ayyHCIOS/
No problem MP. I've been holding SOU all the way from the mid-40s up to �1 and back down and never took profit, so a turn in sentiment will be welcome. I must say I noticed some interesting large trades yesterday and then we get the RNS this morning....strange how that happens!? b@$t@rd$
sorry, wrong link in the last post. Updated now https://www.tradingview.com/x/2539XngL/
...of course you could also draw that pennant as potential bullish ascending triangle reversal pattern if you use the wicks instead of the candle bodies https://www.tradingview.com/x/GyXo9L8e/
Hi - I posted a couple of days ago about a potential reversal on SOU with a higher low forming, but it's too early to call in my view. Updated chart below. Still stuck in the descending channel and running up against the 50MA which is current resistance (although positive signs on the indicators). Also potential bearish pennant in play. It needs a decisive break above 42 in my mind for a potential reversal. https://www.tradingview.com/x/GyXo9L8e/
a reversal on the chart, with a potential higher low forming on the price, the RSI and the Stochastic. Would like to see more volume, but positive signs are there. https://www.tradingview.com/x/IpwPlq7e/
haha...glad it worked out for you Laks. Hopefully will continue trucking. I note they're dropping the bid without moving the ask so could bode well. Will look into some of those others over the weekend. At the moment my p/f is bleeding with the exception of TYM and NCCL. Luckily the LION can't bleed with the rest of them for now. Will have to see how it resuscitates in 3/4 months time.
Morning all TYM is looking like it's establishing a new channel and a potential bowl formation. Underpinned by the 50MA. Could make a run if it gets some volume. https://www.tradingview.com/x/tWDVSUFR/
Hi Laks My thoughts on the chart, agnostic of any news and fundamentals https://www.tradingview.com/x/TuS3npoH/
Looks set for toppy;)
lol...not thick Laks, just innocent;) I guess you know about the birds and the bees then.
*me not my
PB, the adolescent in my is laughing out loud at that one. You might have to explain it to Laks though;)
hello sheeple The best thing going for Lion at the moment is a slightly higher low on price and the RSI, as well as a bullish engulfing (potentially reversal) candle. Although volume is non-existent. So in my assessment either buy, sell or hold;) https://www.tradingview.com/x/x0cgc7Hk/ On the flips side, TYM is looking good, having moved back into the kumo: https://www.tradingview.com/x/aOSn0X1s/ Now just waiting for the Ma5k death kiss:) DYOR, blah, blah
Yep, crunch time at work with the programme I'm working on. New regulations going live in May so very busy at the moment. Haven't been doing much research or charting. Keep well!
Indeed. Added some this morning at 1.33. Hope you're well Laks. https://www.tradingview.com/x/4kYhI6CZ/
Not been posting much of late. Have been busy with the day job as well as losing my shirt on the DOW. Anyway, let's hope we get that good news soon. Everything except NCCL seems to be testing my patience at the moment.