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Actually, I was in the pub :)
Alwaysone, in the library, with the candlestick! :-O
:-D
Yes can see 26p/27p gap now, thanks.
Candlestick bars. Will remember that.
Carbon8ed. We do have some strange handle names don’t we :). Yes I do appreciate that, like I said, if it worked, making money would be easy. MMS look at them as well. I think it does give traders an edge though. You are right about Tesla, broke every chart in the book, shortest been burnt!
I thought the markets might soften a bit over the next few months ( they said same last Summer) so recently put a bit of money into crypto for the first time. Even that’s not doing so great! Just do the opposite to me lol. I bought ARM at 95p many moons ago only to have a profit warning the following day. Lost a packet and didn’t touch shares until last December. Lost opportunities but you can’t undo your choices..
I would not rule out the same for AFC. Every placing that happens and whenever they sell some cheap shares to overseas 'investors' adds to the dilution.
Until we get a contracts that add to the bottom line; the only currency AFC is to go to the printing machines and issue more paper.
Alwaysone - I am not a technical trader but I do use charts as a reference. There are no guarantees in the market so no, they cannot be relied upon to foretell the future. For traders, it is all about probabilities and charting is a tool that you can use to visually see what is happening and assign probabilities to what could happen next. But like I said, I would not rely on it. Just ask anyone that has been trying to short Tesla because the chart says that it's overbought.
Professional day traders using trading software which gives them buy/sell signals often working on very small percentage profits, waiting out for larger profits is the mistake most amateur traders make
Thanks for advising on Ceres, very good to know.
I just read up on Gaps. That’s not what I can see on our chart, there aren’t any gaps I can see.
I can see the trading range from Monday high to Friday close, balancing out but that’s not what I’ve read up on gaps that appear on charts, they really are gaps on the charts. Can’t post it here.
Thanks for explaining the gap point. I wish I understood charts better, even though they don’t follow any rules or it would all be too easy yes? I guess professional day traders do follow the charts very closely though, so trends often set by them. If I had known more about charts, I wouldn’t have sold SLP at 42p. I do hope next week sees the price more settled, especially as I bought and sold twice when twitchy, then decided I’d sit fully invested at 31p no matter what the moves and here we are! I just can’t get it right. Someone mentioned Ceres yesterday and I’d never heard of them. On reading up on them, I think I’d have better invested half my cash into them but too late now and have to hope on next week. Plus no bear markets hindering any rise.
In normal/good market conditions, could any of you chart guys call the price??
Obviously a good point in which to buy back in
muscorum - a gap is created when the trading ranges for two successive sessions do not overlap. In this case, AFC traded up to about 26 on a Friday and then traded only as low as 27 on the following Monday. That left a gap between 26 and 27. The stock traded up to 38 and change by Tuesday of this week, but spent the next three sessions consolidating that sharp move up and today, finally got back down to the point where the gap that was created on Monday was filled. I don't think this site allows pasting links, or I would do so, but if you look at a daily chart of AFC then you will see what I mean. The reason why it matters is that gaps almost always get filled, sooner or later. Nature abhors a vacuum. So the fact that it got filled today is a good thing, imo, because it will take it off the To Do list. If one were shorting AFC, the bottom of the gap would be a logical place to put your buy to cover order.
Although consolidations are not nearly as fun as the runs that precede them, they should be expected, especially after a run from 20 to 38 in seven sessions. So while the stock was overbought on a technical basis a few days ago, now it is not. This is all necessary to regroup for the next leg higher, imo. Also, there was a large gap on the daily chart that got filled today, so it is no longer a concern, from a technical perspective. Fundamentally, AFC is doing the things that will build a foundation for rapid growth in the coming years but it will most likely be a bumpy ride for some time. We will all feel a lot better when we see some sales news that confirm real traction in the market.