MAE 0.00% 0.0¢ marion energy limited

next day expectations according to intrachart

  1. 8,606 Posts.
    Take it or leave it, I may be totally off with it, but I would like to share the same style of analysis for tomorrows trading as i used today to make this prediction below at 11:12am -

    "Usually what we see here is that the daytraders have sold with a 50% profit.
    They reassess the volumes and prices and realise that the share hasnt retreated.
    Then they buy back in and round 2 ensues.
    It is in round 2 and 3 that the price forms support levels on intraday charts and those who observ it accept the trend has run 3 times and they join in.
    So this has a day or 2 left before it pans out level IMO.

    Next round will have buyers in at around 30 and wanting to exit at 34 - 37 cents."

    And for tomorrow, what i predict for movements and levels is this:

    1stly i think it will be going very hard to get below 27.5 cents (testing support). If it does, it should pull up and find support at 26.5 cents. So the first round will begin, at 29 cents on open with another big order, or it will begin at 26.5 - 27.5 cents.

    That 1st round may run to around 33 cents and Day traders traders will accept the 25% gain roughly.
    It will settle for a short while and regain and head towrds the 37 cents mark.
    If it runs through 37 cents it should test the 44 cents range.
    This pattern will hinge on the criteria of at least 1million share volume being traded in the first hour tomorrow.

    After that (as in the next day, if it goes that high, it will be blue sky and may test 44cent resistance, heading towards 64 cents.

    Its a big call, but that is what is in my mind and i have 2 conditional orders booked as a result.

    Happy Investing investors, Happy Trading Traders.
    I dont mind traders when they are not ramping and whenever the price is rising, the more volume the greater our publicity.

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