HDR hardman resources limited

going up - entry point

  1. 1,739 Posts.

    I like to look at fundamentals AND price action.

    After all, all the huff and puff we make, on whether a stock is good bad or ugly is insignificant most times, and it's more important to look at what the Market thinks.

    Get a Daily chart of HDR on a logarithmic scale graph.

    You'll see a dead straight trend line going from 40c to 57c today. (drawn from 13/03/03 to 23/5/03)
    Also is a line along the top of the candles, exactly parallel.

    The resulting trend channel shows that 57/58c is a good low risk entry point.

    Also, the tight spread on this stock (1c) and huge volume on the market depth, means if you want to get out, at a predetermined price, you probably will ... unlike other oil stocks that people are banging on about (e.g. PSA with a several cent spread and low volume).

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