RE: TA traders8 Oct 2021 14:44
Great observation rhubarbmk2,
I was looking at the consolidation patterens on the charts after each move up. How long does it take and is there a similar pattern, etc. i did notice the initial bullish move from the lows and then a short consolidration before a big move up. I was expecting that we move close to around 42/43p before dipping to 38/39p and then moving up to 65p. If you see my previous posts I had a target of 65p. This is because each move up is getting more bigger and more aggressive. Look at the yesterday candel its very bullish and more comperable to the candel that occured on 17 Sept, 28 Sept or 29 Sept. Very risky to sell out and buy back. Not advisable! Still oversold on RSI/CCI, etc!
To answer your questuon :
Question is, have we reached Neckline 3, and will you pull out for the weekend?
I wouldn't sell a single share here. Its very difficult to day trade a penny shares. I wouldnt advice anyone to try and make few pennies and risk lossing out on the big moves up. I have clearly stated that the move from 19p to 41p occured in 5 days. So if you miss out one day that's a very big loss.
THIS IS WHAT I HAVE BEEN LOOKING AT:-
1st Peak:
On 7th Sept, price was 19p and we moved to 23p. ( 1 day)
Then we consolidated for 6 days until 15th Sept. ** Moved up on 7th day**
2nd Peak:
On 16th Sept the price was at 21p and we closed on 17th Sept at 30p. ( 2 days move up)
Again we consolidated for 6 days until 27th Sept. ** Moved up on 7th day**
3rd Peak:
On 28th Sept we were at 25p and we peaked the next day at 41p: ( 2 days move up)
Yesterday was 6th day of consoldration. Are we due a move up today and early next week to 65/66p?
DYOR!
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