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Cheers mate! Hope your right on the trend line mate! Gives us a bit more room to make money! Have a nice weekend anyway dude. 1WJM
Start you r trend line 3rd Sept. It should clip the 29th Oct bar, Pretty much skim down through Nov to Mar, clip the low of the 7th Apr, and then the SP finally plunges through it on 30th Jun. Can't do a screen shot sorry mate - still trying to learn how to do that!
LOL! Lets hope the alarm clock goes off and it gets out of the right side of the bed!
Small tentative buy of 1000 @ 8.45 - pushing the envelope @ 62.8 - lets just hope that there is some demand to follow now as well.
Trend lines are what constitute true support resistance. An excellent book on it if you want to add to your growing collection is Channel Surfing - MJ Parsons. If you get a chart up of CWR and scale out so that you got the whole of 2009 and 2010 data showing - preferably on a fullscreen chart, with no other indicators loaded up to distract from the process of finding trendlines. I basically do this on every stock on my watchlist.....and I alwasy try and 'capture' price action within trendlines. When you do this you will start to notice that a stock may be 'coralled' or 'fenced in' within a trend channel. The bottom line of the channel supplies support - and the upper line of the channel applies resistance. You probably already know that when support is breached to the downside - it usually becomes the new resistance. ANd when resistance is breached to the upside, it often becomes the new support. But its a common misconception that support and resistance lines are 'flat' horizontal lines across your chart. TRUE support and resistance are more likely to be oblique trendlines running through the chart. SO - if you 'capture' the trend channel that CWR was in since AUG 09 till JUN 2010 - you will see that it had definitive boundaries (or trend lines) above and below the move - creating like a wedge. It wasn't until 30th Jun however, that the stock actually crashed through the lower trend line of the channel. The stock found support at the psychological fig 57p (or thereabouts) as I though it would. But that trendline it crashed through (which provided support for months - Since Aug 09) will now become resistance. ANd if the stock continues to rise - it is likely to encounter this new resistance trendline @ about 73p. Knowing its there at all, can help us plan effectively how to tackle it, and manage our own risk / rewards. GL
If this keeps working out as planned - then initial target of 73p would be prudent - will be hitting resistance from a down trendline (there or thereabouts). Will have to see what the action is looking like closer to the time to assess whether it will go further in the immediate term then.
Gone into auction....
There she goes.....up 11.2% Looks like you got in at the right time mate! (Lets hope I havn't speak on too soon!) Good luck
60,000 buy just crept into the mix! @ 60p
Has made it onto the top risers list (albeit at the bottom - but hey, I'm not complaining!)....
Re: SBRY - it would need to take out 217 for it to count. Otherwise its not completed pattern. Don't think there's much risk of that happening though.
Could well be happening. I like the buying thats been going on here in the last hour!
Could be....but I don't know enough about that form of analysis yet to be sure. Glad I didn't get shaken out yesterday though. I'm hoping for more gains........(obviously!) LOL!! GL mate
Up 7.6% now . Someone accumulating at about 10.24 this morning.
WR1 posted a great link the other day on volume analysis. Have a read of this.....its a brain bender - but probably worth the effort! One for the weekend - with a nice pot of tea and a packet of biscuits! (I'm a sad git ain't I? - LOL!) http://www.tradeguider.com/mtm_251058.pdf
Cool name mate! Yeah thats a good book. I've roughly about a hundred trading books - but can only count on my hands which ones totally tranformed my understanding of shares. Thats one of them! I think your fundamental reasoning is bang on mate re: Ceres. Best of luck! 1WJM
No problem mate. I'l try and tell you my thoughts as we go along!
Depends on where the day actually closes. This could just a be a shake out. I ain't going anywhere yet myself. MM's still don't want to sell them back to us on the cheap do they? I'll see how it progresses from here. Stick to your own rules though! I wouldn't want to contribute to anyone losing money. I always follow my own nose.....sometimes i'm right, sometimes I'm wrong! LOL! But fundamentally I think this company is cheap at these prices - and have no reason to think otherwise just yet. Good luck mate
Down 2.6% now. - and yet the MM's still don't want to part with theirs for less than 60p Hmmmm?
This link was posted on iii.....many of you may have already seen it. But a useful appraisal of whats going on ATM by any means. http://grayshares.co.uk/graysinvestmentbloguk/2010/07/15/optimism-returns-to-caledon-via-news-of-a-possible-takeover/