Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
EWT, you may have noticed that I didn't challenge you on what you said about the next SL being @0.68 when I had said that the current one is @0.70.
Firstly, you were right about the date (6th Jan) as being the date that previous resistance (which becomes a support level once breached of course) had been met (0.70 intraday with a close @ 0.68 on that day). There is a thing here (2 actually), as you know support AND resistance levels are not considered to have been breached until we get a candle close below (for support) or above (for resistance) BUT i was taught that when a stock's price revisits and old resistance level (now support) you measure from THAT day's high NOT the closing price ie on the 6th Jan the support began at 0.70 (I say began because my old teacher used to say that both support AND resistance levels are zones not fixed points and must be treated that way. He used say that TA is a guide NOT a law!!! So, if you say that the present support level is 0.68 I would grind my teeth a little but could not strictly speaking disagree. I would say that it begins @ 0.70 and my teacher would have said that we are both right and that this zone 0.68-0.70 is where Oriole will find support. The next SL after the present one was set on the 20th October where resistance (now support) was found @0.66 intraday with the close @0.64
I really have to go as I don't want to be late but I think that if you are finding that what you do is making you money then what youn are doing is right, sorry again if I was offensive. In normal circumstances I don't behave this way but everything is upside down atm anyway I have a shower to take and flowers to buy so enjoy your trading day. DS
Morning EWT, I hadn't intended to post again on this site atm (or possibly ever) as I seem to be lashing out at everyone in all directions and that won't do. I wanted to check that the moderator had taken down my two posts to you last but they hadn't,apologies again if they caused offence. I only have about 20mins before i need to get ready to go out but I will try to give you my TA perspective (for what it's worth).
Technical analysis is of only limited use or value with small cap stocks such as Oriole as support/resistance levels can easily be completely blown away by the latest news update - this health warning MUST always be given when analysing a stock like this one. Looking at the macro before getting into the TA with Oriole we have had small encouraging snippets of news since January which some people (possibly me included) got a little carried away with and then as it wasn't followed up with "concrete" results - disappointment followed by short-term punters walking away from the stock causing the SP to deflate like a car with a slow puncture (very normal situation for a small news-driven cap like this when no MORE news follows that backs up the original excitement). Remember, the market is filled with short-term punters hoping to make a fast buck and they only want to stay when the stock price is moving up (which without stellar news Oriole is not).
EWT, might I gently say that moving averages are only useful when used in conjunction with other indicators. They can be used together with fibonacci retracement as well as other indicators to highlight entry/exit points but, again, this approach does not do well with this kind of stock (it can not be relied upon as indicators like these do well when stocks move relatively predictably which Oriole does not - compare with BP for example or other large stocks that are not as news sensitive).
To gauge the trend of a stock use the weekly chart NOT the daily and, if the stock is trading above the 200 week MA it can be said to be trading in uptrend (which Oriole IS since the week beginning Monday 11th Jan when we had a candle close above it). This used to my first action when looking at a new stock as the old stock market saying that "...the trend is your friend..." very often holds true! There is no reason you can't use the daily chart but I was taught to use the weekly for this (maybe it's different these days I don't know. If it works for you... One last thing on the different charts, I use the 10 minute chart to judge my entry point (after using the daily and hourly -always do it this way around larger timeframe to smaller one to pinpoint entry). EWT, you probably already know all this but may find it interesting. I don't have long but MAs ARE interesting when they cross (golden cross is an example of this) but again only significant if used in conjunction with other indicators.
Continues: next post
westh1 - I have asked the moderator to remove my 2 previous posts as they may offend.
You are right westh1. I have had a lot to contend with (family health things) and worry and dealing with something that I have absolutely no control over tends to make me angry. We have ALL had a hard time of it these last 14 months or so. Some of us have lost a lot (people I mean not money). I will leave the board for a while maybe permanently.
Hope I didn't cause offence,EWT. I'm sure you know a little bit about this. You did give me a chuckle though,g'night.
1986!
Hi Leathal, I have just read the "Technical Analysis" post by EWT and have laughed myself silly!!!!! EWT, I really hope you are having a joke because just about everything you posted was either gibberish or terms which I doubt whether you have more than the most rudimentary knowledge of!!!
First of all you talked about 0.75 as being "current support" which it is not - if what you are saying is true then WHEN was this support level set? On what date?
Secondly, from which date are you drawing your fibonacci retracement from that the closing value on the 6th January was @ the 76.4?
Thirdly, what on earth does "Following this there is support at the inclining 200 day MA" mean? (Leathal this is when the hysterics started which brought tears to my eyes!) I have never heard of the term "inclining 200 day MA" (moving average) before mainly because if there is some desolate corner of the world where somebody has come up with this I haven't heard of it yet! This is obviously because our friend here has made it up! There are four different types of moving average - Simple , Exponential,Weighted & Smoothed and ALL of them incline upwards (some of the time) and downwards (some of the time) - THAT'S WHAT THEY DO!!! (I am laughing so hard at this it has really made my day!!!). It's like the vacuum cleaner instructions manual that's been translated from chinese into german then from German into swahili and then from swahili into english = GIBBERISH! (but to be fair to EWT the 200 day MA value at close today WAS 0.66489 so at least he got THAT right but it has ABSOLUTELY NO SIGNIFICANCE AT ALL!)
Fourthly, he talks about the "200 day MA offered a strong level of support from early October through to mid-December (when we began to breakout)". Leathal moving averages offer only slight levels of support/resistance not strong ones as when both kinds of level are created it is at values that investors spend either a significant time at or trade high volumes of stock. Usually this happens at round numbers as they are natural rally points - moving averages are only loose guides and most definitely do NOT offer the kind of support EWT is inferring here. He is seeing the share price hovering for months just above the 200 day MA and thinks that it is providing support when in actual fact the share price was barely moving higher at that point ergo barely moving 200 day MA too! Not only this but the "breakout" that he talks about was brought about through an RNS which came out at that time causing the SP to POP (check the RNS history in late December and early January and look at what happened to the SP).
EWT, I'm not sure whether you were being serious and your knowledge of TA is limited but please don't try to blag if THAT is what you were trying to do! If you want to talk TA with me I would be happy to help you as I first did my first course in the subject neigh on 30 years ago which is probably before you were born I would guess and bought my first shares in
No worries,Kadlex. Happy to help! (I think you meant support level not resistance level which is the level at which the SP finds it difficult to break above btw).
... on the beat this morning! Looking like a good prospect again (holder since 2017).
Haha mrtibbles, you do make me laugh ( I mean that in a nice way not sarcasm). Yes, by the laws of supply & demand, hearing that something is "overbought" you'd think that would mean the price should go up - who comes up with these terms anyway!!!
OK! Here's another one!
Who's the most popular guy at the nudist colony?
The one that can carry a cup of coffee in each hand and a dozen doughnuts at the same time! (get out, get out,get out of my head Tim!!!)
Oh god,Kutzz! I don't think i'll ever get the image of Tim Livesay with a stiffy out of my head now - thanks pal!!!
Nice one jon! Here's one for you:
Two men broke into a drugstore and stole all the Viagra. The police put out an alert to be on the lookout for two hardened criminals ;0)
Worried about me are you,mr weed?
On the whole you are right UkInvestor - good people. I have always tried to meet adversity head-on,in other words, look it straight in the eye and sort it out. Dealing with stress it's either fight,flight or flow I'll let you guess what my strategy is! I have little respect for those who just want to recede into their sofas and are too scared to talk about the problem and have always believed that with a little sunlight on things suddenly it doesn't look so bad(a trouble shared is a trouble halved kind of thing!). Also, the old adage that "two heads are better than one" is what a board such as this one is all about isn't it? Anyway I can see that the three separate kinds of people (fighters,flow-ers if that's a word! and those who want to run or hide under the bed) probably grate on each other with their very different approaches! Maybe if we ALL understand this and have a little understanding there would be a little more harmony and a little less bickering (good word). I'll get off my soapbox now!
Kadlex - I have just looked at the charts for Oriole and have the next support level @ 0.66 set on the 20th October 2020 this was the resistance level at the time which, as you know, becomes a support level if breached which eventually it was, of course. The 0.82 was respected for about 5 weeks and, hopefully, the 0.70 will last a little while too but if it doesn't 0.66 will come into play. Hope this helps.
UKInvestor - Kutzz and I (and no doubt a number of others) were thinking along the same lines re: Bibemi results that Tim & Claire were waiting until the lab results from one of the cores would be so good it would overshadow the disappointing ones. I worked on the TA for ORR quite a while ago and posted the Support levels (0.82 & 0.70) the first was breached last Friday (0.82) we have not breached the 0.70 yet. I will look at the charts this evening and post the next SL below that one but let's hope it doesn't get that far. Be wary of being TOO honest with your thoughts on this site, mate, as there are some here that are just so fragile they c**p themselves whenever they hear anything negative about Oriole!
It is never enjoyable when experiencing downturns but it IS "just another day in the market". I remember doing something similar to what you are doing right now a long time ago but thankfully (mainly with help and advice from a friend) I came out of it almost unscathed but it taught me about eggs and baskets! I immediately diversified and have kept the same trading model/plan ever since. Life is like that I suppose sometimes we pay a heavy price for our lessons learned and sometimes we get off lightly. That was the point BTW that I really started to read up on market trading/investing. Anyway, for your sake, I hope that these results whenever they arrive will be stellar and "blow the bloody doors off!" as Michael once said - GOOD LUCK MATE!
Kutzz, Only you know your situation and how much you are prepared to lose on this if the Bibemi results disappoint and the ORR SP tanks but ALWAYS look at BOTH scenarios positive AND negative. If you are in this deep with Oriole I would caution you not to buy any more. This may seem a bit strange coming from a guy that just added more ORR himself 8 days ago but my situation is very different to yours! Don't let the idiots talking about "messing the bed" sway you as they'd laugh if you lost the lot and move on to the next thing! If you have a little spare funds buying even a small amount of shares in something else WILL lessen the stress.
All of my high risk stocks are in the red but they only make up about 20% of my overall funds and my low & medium term ones are well and truly green. Day trading is very good right now so supplementing my high risk stocks in small bites has helped some of them look a bit better. Trading/investing is something to do on many fronts at the same time - otherwise too many eggs in one basket!
hornygoatweed - If your comment was aimed at me my intention is to "HONESTLY" view the situation and voice concerns that many (if not all) of us are having regarding this stock. I post my buys on this site and you are welcome to go back and find these posts so you can check. The present situation for shareholders is not enjoyable and the Oriole BOD (who read these boards) NEED to know what the sentiment is out here! So don't tell us to "get a grip" maybe you should ask yourself just how honest you are being with everyone else (and possibly yourself?)!