RE: Sound Energy PLC - tempted to buy some18 Nov 2019 15:14
Only 1 t indicator? Well on my chart the RSI looks oversold, I added in Stochastic just to see and that is oversold too, on daily, weekly and monthly. I am sure if I stuck a few more indicators on the chart it would show oversold too. But so what?? It does not back up your number at all?
The top of the daily candle is 3.8? The first resistance level is 4p then 4.40p Assuming you are using the theory that price has to touch and reject level more than once. But I don't get again how this makes your figure any more likely?
The sentiment is low I give you that, a lot of investors are in above the current price and are not happy but suggesting more bad news will send it lower is like saying good news will send it higher - it is a pointless statement.
I bought because of the bad news you mentioned, Staff going. I have no idea where it will go but your 2.8 is pulled out the air.
I also think from a technical point of view we had a doji on the 14th suggesting the drop was running out of steam, followed by a bullish engulfing candle on friday - which would indicate a move up. Todays candle is still to play out and currently it looks crap but that does not mean i will not pull back..