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A trailing buy order, 1 tick above the previous days candle - should get me close enough to the bottom (although I won't nail the exact bottom), without gambling. Price will have to turn positive to buy me in.
Shaping up for another buy at these prices. Took a nice wedge out from the last rise from 35p to 45p. Intend to do again now! Stochs bouncing along the bottom, deep in oversold territory. MACD histogram showing a bullish divergence - not hitting any where near the lows that it did when the price was this low back in mid Dec. Check out the historical charts - CDN loves the death by a thousand cuts treatment after a significant rally - and then rewards the patient with another juicy rally. The trick is - get out after each successful major advance. And quickly set your trap to catch the next one a month or two later. No point hanging around for the death by a thousand cuts treatment - it will make you go grey! 1WJM
Its at it now - 43p imo. Make or break from here now. However - if its a break north thats on the cards, don't be surprised if the MM's go on fishing expedition first - by that I mean spiking the price down quickly to hit stops just beneath the resistance - to generate volume and take some stock back ready for the uptrend. Hopefully they won't play funny buggers! This has played out so far exactly as I predicted - if you check back over my posts. However - its at a critical stage now. The inverted head and shoulders can be a powerful reversal pattern (so should reverse the downtrend we have witnessed the past weeks / months). However if its violated - i.e. starts to head south again from here - then that could be particularly nasty. Anyone trading this pattern - and there will be a lot of people - will have stops positioned to protect against a violation of the pattern. If these get hit then it will create a mini snowball effect - which could be damaging. Next few days will tell - just be on your toes. No point staying around if its determined to go south. Better of being on the sidelines and waiting for the next bullish signal - you will pick up more stock for less money, and less stress! Good Luck - 1WJM
.....bounced strongly off 43p.
Well at the moment my money is still on it going up. Good Luck mate
I'm sure your right mate - for me this is a trade rather than investment. When I say die a death - I only mean in terms of the pattern I'm trying to trade. I hope it gonna take off. Best of luck.
.....the 43p pullback i was talking about. Now we are at a critical stage in the plan! Its either going to take off after this, or die a death. Everthing so far has panned out as I expected. Stop loss adjusted to break even - so a no risk trade from here on. Good Luck guys.
You will be waiting a long time for 45p mate. Its going in the opposite direction! It had plenty of time to plumb those depths again over the last few months - but it didn't.....WHY? because the people holding the shares obviously didn't think thats where it should be. Don't get miffed over your (extensive?) research - price is all that matters at the end of the day. If the market wants it to go up - up it will go - regardless of what you think - it all depends on someone being prepared to pay more tomorrow for the shares you bought today. You can ask the market to walk it back down to 45p just so you can jump in - but at this stage somehow I don't think it will listen. At the moment - anyone who is ONLY prepared to pay LESS than the current market price hasn't got a look in (especially @ 45p!). SImples. Move on.
I'm still waiting on a possible pullback, before the uptrend starts in earnest. Hopefully I'm wrong - but the fact that i've factored it in to my trade means that I won't be dissappointed and subsequently shaken out of the share if it does happens. Personally I still think that this share - as I said last week - has now seen the bottom. However there is still a 'zone' of resistance to overcome as signified by the 'choppy' price action between 45 - 48p on the chart preceeding the recent inverted head and shoulders pattern. This resistance is recent enough to be significant - in as much that some people who bought shares during this period could well be looking to just break even on this share and move on. That would have an effect of capping off this rally. So its good in a way that the share is holding its small but steady gains - building a base. It now needs fresh bulls to join the offensive and push the price up and beyond that "zone' I mentioned - which will then become the new support. Good Luck
If you can't see any profit in this share why is it the only one your posting on? Got any other red hot prospects Well Head?
To be fair - your might right. Its a risky play - which is exactly why anyone who decides to trade any potential divergence on a stock like this should set their trap, and wait. Not put their money into it, until it shows signs of breaking out - which will no doubt be on the back of positive news. Better to be out than in when those risks are apparent. But KNOWING about the stocks potential upside on the back of good news, is enough to warrant a trap to be set. My buy order is set, and i'm watching the volumes and news feeds carefully, along with numerous other indicators. Until then i'm at no risk at all. Good Luck.
Fundamentally you could be right - and besides which you are entitled to your opinion. However, true value in the stock market is very rarely seen - due to the fluctuations in price caused by over exuberant buying, or over exuberant selling. Its as simple as that. To get an idea of the divergences between a more general consensus of value, and recent overly exubent buying or selling, smart people check for signals that either correlate or don't with certain indicators such as the MACD, stochastics, force index, chaiken money flow oscillator, etc etc. Whether this is going to hit the floor long term is irrelevant to someone looking to profit from a short term snap back to the general consensus of value. Which at the moment the stock is not reflecting through the indicators - which are saying that recent overly exuberant selling has been overdone - a product of panic and fear - and creates an opportunity for others to profit from that irrantionality. The reason why money gets held like this in the system, is due to international agreements on the movement of funds into,out of, or even on behalf of, any country that is not signed up to the treaty. This happens in the banks all the time. Lloyds TSB recently got fined a whopping amount by the US for allowing funds to pass through before certain checks had been completed. I reckon EPO are under scrutiny. But still think there is a short term trade to play here. DYOR
Up 6.7% in early morning trading.
.....bullish divergence on the MACD histogram - stock trading sideways after hitting new lows - however MACD histogram not hit the new lows to reflect. In fact the past few days the histogram has been ticking back upwards....threatening to go positive within the next few sessions. Price action stayed pretty static - in comparison - so i see an uptrend worth trading on the horizon. Stochs still deep in oversold territory - next stop 20p? Who knows, we'll have to see what the bulls have to say - as yet the force index not showing that there is much fight in them (yet!) - that could soon change, as the spikes to the downside on the force index show that bearish sentiment is quickly weakening - hopefully soon to evaporate altogether. Obviously the last of the amatuer traders have given up the ghost and jumped out scared at the bottom - pity really, they should have set a stop loss - rule no.1. Good Luck to those holding and thinking of buying. My view is this one is due for an uptick. But DYOR as usual! 1WJM
....."Concentrating on improving margins through operational efficiency appears to be paying off for property repair and maintenance specialist Rok....... Rok's forward order book is impressive at around £2bn with 83% of revenues this year already booked. So trading on a modest five times earnings forecasts, the shares are a buy at 43p"
The share spy! - Good to see you online.
I think your right - this week may prove a bit too early for Rok - its not the most exciting of shares after all. Plus, I still think there is a high probability of a pullback to 43p (ish) before it goes to meet the upper channel line (thats if it does at all). At the moment its all subjective - but playing out exactly as one would expect in the classical sense of the formation. We will have to wait and see - but one thing I know for certain is that having invested for years on a purely 'fundamentals' basis, and then switched to a mixture of fundamentals, but propped up far more heavily by technical patterns - I have become much much more successful in my trades. So this has given me the faith - that more often than not these things will prevail. Not always though - but no system is infallable - thats what strict stop losses are there for! Lets hope this time its right - and 48p will be a reality within the next few sessions. Good Luck!
......but if my hunch proves correct, then this one could pullback to the support line @ about 43, before a possible rally to the upper trend line which I make out to be approx 48.5. If it breaks through and holds then I think we have got a bona fide reversal on out hands, signified by the (albeit marginal....or should I say puny!) inverted head and shoulders. At this stage it could still go either way TBH. Even so, my plan is to take a 20% profit at the upper trend line if I can, then wait to see if it breaks through with intent - if so I'll get back in for the breakout on the first pullback. Good Luck guys!
....seemed to have taken their opportunity to run for the fire exit @ 45p. I still think this stock needs another a day or so to complete its bottom formation, at which point it should start to show signs of bullishness again. The best time to be in is after everyone who was think thinking of jumping out has already done so. Hopefully we will be witnessing the last of the 'jumpers' over the course of the next session. If not, a tight stop at these levels will see me split quite early on. Good Luck guys.
....on the 8th. 1 share traded twice - MM's talking in their obscure trading language no doubt! MACD just gone positive - could see a run to between 105 -110 IMO.