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chart -possible start to an uptrend?

  1. Brunette-two

    6,951 Posts.
    I have been wrong on this one before, but looking at the chart I get the feeling that the shares are being accummulated and there is no tremendous selling pressure and the buyers are laid back picking up the shares. It is a very difficult chart to draw IMHO however looking at it carefully you will notice that confluence is taking place and if the share price holds at $1.93, it might be worth going long with a tight stoploss. For those who wish to have less risk one would be looking for a close today above $1.98 again with a tight stoploss, the figure will change on Monday.

    Don't forget to consult your correct advisor as I have been wrong many times in the past, however if one can get in very close to a low on a point of direction change , it can be very beneficial.

    Remember yesterday a doji star occured which very often can mean either a change of direction or close to it. It is a Japanese candlestick term.

    I dont pay much attention to stackings as I do not wish to brainwash myself which is always a risk so I look at the prices at which shares are changing hands.

    Best wishes

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