Psst!! Looking to make 25%

  1. 10,543 Posts.
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    OK, first - the disclaimer! The stock I am about to make a forecast trade on is one I already hold and am underwater on. I continue to hold it for reasons well and truly documented already.

    Now the trade. The stock is TMS. I'm looking at the chart and to me I see a number of things.

    Firstly, there is now clearly strong support at this distressed level between 3.6 and 3.9c so the stock has now been riding along the 61.8% Fib retracement formed from the absolute low of 2.9c and the recent spike of 5.7c for a couple of weeks whilst sold accumulation takes place of panic sale stock. The accumulation/distribution indicator has leveled and looks to be headed up.

    The demand index is powering up and the momentum index which took a little dive after the 5.7c spike is also leveled off.

    Now remember, this is a technical short term trade not fundamental. So the exit point is the 23.6% resistance which is 5c.

    When will it go up ? Who knows but shortly is my guess.

    As always, its a risk capital trade and you should stop out any fall at below 3.6c imo.

    Cheers,
 
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