RE: Re: The runes22 Oct 2020 18:11
So how did my little prediction go? Well I said open at 24.5, we opened at 24.75, but dropped to 24.5 within the 1st hour. I said a low of 22.5, the low was 23.5, well I guessed it would go down, but I am not complaining it didn't go as low as I predicted. I said a high of 26. Well got that wrong. I was tautologically right about the close, i.e. somewhere between the high and low. Think I will have to be honest and score this reading of the runes as a 3/10 effort.!
In answer to question raised earlier, if we breach the 50 dma it could indicate that longer downward trend. I wouldn't panic yet though. I wouldn't think a continued downward trend could be predicted on the back of dipping below the 50 dma for one day. Also this share moves on news and expectation of news. Further, the most recent low was 22.5 which looks like a minimum support level and we didn't breach that today. I would say this is a time to keep some dry powder back and top on the dips.