Automatic For The People - REM

Thursday, 6th February 2014 15:39 - by Osakisushi

It’s easy to think of REM as being just another ramping victim, a pump and dump target. But if we look at the chart from the beginning of time, something quite fascinating is shown (from my perspective) as it seems a trend which dates back to 2005 is being carefully followed by the nice people who decide whether traders eat or not.

I tend to regard this sort of nonsense as a good sign. It means any software being used to map this shares potentials is looking at just above 7p as an aspiration for the longer term. Of course, the price need only slip below BLUE to cancel the argument which gives such a silly potential for a 0.55p share.

I’ve drawn a PINK line at 1.25p. While REM is nowhere near it, in the event of the price managing to actually CLOSE above this level, some stonking true growth can occur.

Currently, from my perspective, it’s only worth watching but I am truly fascinated at the possible causes of the share avoiding any break of BLUE – currently at 0.31p. Even near term, movement above 0.6 should prove capable of 0.7 with secondary 0.8p. But to judge by the relative flatline during January, I’d guess it’s awaiting news of some sort.

The Writer's views are their own, not a representation of London South East's. No advice is inferred or given. If you require financial advice, please seek an Independent Financial Adviser.