the ichimoku. So however achieved the small but incremental increase in prices we are seeing recently will be sending out fireworks interms of technicals alone. The fundamentals are ridiculously strong, the company is making positive noises and comms. The planets are aligning on this share in a big way. The ONLY thing lacking is volume. No will the volume bring the confirming technicals or the other way around. As many people trade on technicals then I don't see why it wont bring some volume and hopefully then a virtous circle.
That is how herds work isnt it? one gets spooked so it runs, the two beside him look up can't see anything but think they should run just in case. Five or six get startled by the first one rushing past then see the other two and think sheet they spotted something lets go boys and next thing you know poor mustafa is dead and poor simba is an orphan.
I'm bullish but wary as things can change quickly. But still bullish. Hope it isn't too irritating.
Thanks wanton. fair enough. I am still getting the hang of my technicals. I too believe that technicals require context (often technically allowed for by volume). Though I like to look to the tape and trades for further confirmation.
I do like to post my technical analysis as it helps me crystalis, record and commit to an opiniion.
I have also seen many shares with a drip drip drip of a downward trend and this seems no different just inverse and the technicals work in that case. I have felt the sense of desolation which that can induce. Consequently I am determined to enjoy my optimism. Though your note of caution is well made and should be heeded.
Also I take you point about the cloud and averages. I am familiar with ichimoku and am trying to use it but I do not feel confident in it yet.
I trade on leverage so not going down is a BIG deal to me and the breaking of the 8 month downtrend is a big deal for that. We are holding and gaining on that. Small increases until the woosh are great.
A thing that is interesting about the current position is that there are so many important points of support/resistance/signals in such a tight band. As you indicated in the chargt 57.25 has two important averages, 57.85 (i think) is our previous average and finishing above that would give us a new higher high confirming the uptrend. we have the daily and weekly clouds both within 5% of those figures. Before which we are likely to have a chikou sen cross and tenken kijun cross on the
If we can jump these two hurdles—which will hinge on volume / buys over sells—then we will see a big move to the upside. I think the chances of this happening are high and the timescale short (next 1-3 weeks). However, like cthed, I do feel news will be the driver and will most likely come before any technical moves.
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