Interesting cause I'm pretty sure that this trade was originally reported to be from the 18th and was changed to 20th yesterday (along with 3 other big trades that were showing as done on 19th but also appear to have been changed to 20th) hmmm...
its following the classic phase of 5-6 daus volatility after RNS then pahse 2 of tentative support coupled with mACD/RSI bottomed and moving from 05/100 upwards......shock factor gone, hopefully good sustained boucne now that the big players like JP Morgaon have got thier fill
Not sure you can totally ignore TA unless you are just sticking your money in and not looking to play any of the swings along the way. I'm not saying charts can predict the future and often there are multiple possible outcomes on them, but they certainly help with picking your buy/sell points when trading the bigger swings along the way. Just need the trend to change here as however mis-priced it is we need the market to take the same view as it is very hard to fight a strong trend. Personally i think we will see that, and that some have taken full advantage to create this drop and load up on the cheap before we see the SP recover to more sensible levels. Just my opinion though.
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