Member Info for iceman888

I see 50 DMA holding up well! Sellers must be getting exhausted.

Few hugs and off we go!

The close price is the key.

So far it's very bullish as we have a text book reversal here!

£2.40 next level!

Sounds about right..... fingers crossed!

tick....tock...tick.... topped!

1) Strong support at £1.70
2) Fib Retracement at £1.73 ( yesterday low £1.73). ( Tils loves the fib levels). Have a look!
3) The last two days drop was on a LOW volume. (sellers are getting exhausted )Very positive
4) It healthy to have a dip after a big move from £1.20 to £2.08!
5) Above all the moving averages!

Im a STRONG buyer today !

Good luck!

I know what you mean. You have to find the right stocks. VAL i like very much. With technical analysis you trade what you see not what you think! So if you see a formation breaking out you buy it. You can use several indicators to make sure it's not a fake out but you just have to go with the formation. The guys who are very good are right about 80% of the time.

Have a look at SAR.... I bought this last week. Look at it on weekly. Draw a horizontal line at 0.25p and 1.7p = Big channel! Within the channel you had a very bullish flag. It broke out last week. I sold half of my holding just before the close and i have 50% left. My first target was 1.70 and then 2.25p.

@ vp89

You take the peak. You use daily chart so this removes most of the noise. The peak is an important reference point and is used for trendlines, double tops, triple tops, etc.

Few points from today close:-

Today we had the LOWEST VOLUME since 18 September 2020. Look at the chart and see how the volume moves with the price. In the past you can see that you don't get a quick reaction of the 50 DMA. So we should consolidate here and then rise with increase volume.

I think its good idea to understand the four market phases (the stock cycle). Google it.

Some good example of Moving averages: -

Have a look at DDDD on the daily chart. See how the price action is NOT able to close above the 50 DMA? Where do you think this is going next? I’m not shorting it but I will buy once it fills the gap and BREAKS the 200 DMA (my buy level 65p-70p). This is my plan. If it drops to my level then i will buy DDDD and if it doesn't then i find something else.

Now look at BIDS
It has stayed under 200 DMA for almost one year. Now it’s broken out. I hold this stock (golden cross soon).

Have a look at the chart and you will see a CHANNEL. Sometime it extends on the upside.

I hold this stock!

Last time I saw the book like this pre market open we had the 100% rise in April....

Dont think we will get that but something going on big here!!!

GLA

I use daily charts to work out my trades and then to get my entry I use 60/30/5min charts. Daily charts are more accurate as they cut out most of the noise or small fluctuations.

Moving averages: I feel they’re the most under rated and small investors don’t use them enough (big mistake). If you ONLY use the moving averages you will see your profits skyrocket! The professionals I have watched or read about all use these three moving averages: 20 DMA, 50 DMA and 200 DMA on daily charts (extreme cases on weekly charts). These three moving averages are the key and probably the only ones you need to use. Have a look at these on stocks like Apple, Microsoft, and indices such as DAX, NASDAQ.

Your first support/resistance is provided by the 20 DMA, if this breaks we look at the 50DMA, and if this breaks then you look at the 200 DMA. Look at the daily and weekly chart for Apple. Do you think you could have made some money? Look at a few other stocks like Microsoft, notice the 50 DMA on a weekly chart. The fundamental rule for technical analysis is that patterns ALWAYS repeat! So you buy every time the price action touches the 50 DMA. You are always buying on DIPS and never the peaks! If you use trend lines and moving averages you will get almost perfect buying levels in stocks and indices.

The 50-day moving average (50 DMA) is the average stock price for the last 50 days. For Valirx, this is the sum of stock prices from 3rd August to 9th October divided by 50 days. If you look at the chart you will notice that the move up started on 10th August. The closing price on 10th August was 10p. From there we continued to move up and peaked at 72.75p. So what does this mean for the current 50 day moving average value? The net value will start to increase at the end of this week and hence the 50 DMA will rise. This should move the share price up.

20-Day Moving Average: We have moved away from the 20-day moving average. If you look at the chart you will see that Valirx stock price stays close to 20 DMA more then 50 DMA. A healthy stock price action trades slightly above to the 20 DMA. So we should move and trade above the 20 DMA.

FIBONACCI RETRACEMENT: We hit fibonacci retracement 0.786 (22.25p). Please have a look. How amazing is that!

Thank you everyone for your kind posts. I'm still learning TA and there is so much to learn. Nothing is 100% accurate in this game but it does increase your success rate. TA gives you a good entry and exit levels.

There are some brilliant minds here. I really enjoy reading Adams, Grace, Nick's posts. We are lucky that we have these experts from the industry who are breaking down the RNS and explaining to us. Adam and Grace's post have helped increase my understanding of the drugs and their potential. Combined this with my understanding of technical analysis I feel very confident in my investment.

I have accounts with a few brokers and they all provide me with free charting software. Investing.com has a free charting software.

My favorite trading books are: Market wizards interview with top traders, Jesse Livermore: World's Greatest Stock Trader, Reminiscences of a Stock Operator by Edwin lefevre. Technical Analysis explained Martin J. Pring.

If you don’t believe in Technical Analysis it’s not that it doesn’t work, it’s because you don’t fully understand it or have not seen the proof.

A chart is a visual look at all the information i.e RNS, media reports, CEO’s interviews, drug results, government reports, etc. and all the traders’ reactions to the data without the emotions and drama. If you can learn to read a chart then you can learn to read the markets. Someone once said that a picture is worth a thousand words, how true is that!

Read through the next message and look at the chart for Valirx. The smart money i.e. City (fund managers, etc.) all use moving averages and trend lines. To follow smart money you need technical analysis.

This is what i'm seeing when i look at the Valirx Chart:

Daily Chart:-

1) The price action respects the 50 dma! Have a look at it yourself. We have come back to the 50 dma.

2) There are many useful indicators but i like these three: RSI, CCI, Stochastic. I find these three to be most accurate!
Please have a look on daily chart with these indicators!

ALL THREE INDICATORS SHOW VALIRX IS EXTREMELY OVERSOLD!

2a) STOCHASTIC:- We hit the June 1st low (4.78)! Just spend few minutes looking at the chart and you will see how perfectly it follows the price action from highs to lows.

2b) RSI: Lowest in 6 months! OVERSOLD!

3) SUPPORT ZONE: On 1st of May we spiked to ?23p. We have NEVER closed in the support zone (23.5p-22p). Too many buyers or high demand area! The price action is respecting the support zone!

4) DRAGONFLY DOJI. Friday daily candle (Google it and you see what i mean= bullish)

5) We formed a symmetrical triangle chart pattern and i expect us to break out early next week.

6) From 3rd September to 18th September = 13 days consolidation zone!
From 29th September to 9th October = 9 days consolidation zone!

From my experience it's between 80%-120%.

7) A close at or above 26.5p will be VERY bullish and will indicate a start of new upward trend! WHY? Because it cancels the whole of last week downward move.

8) Look at the 4 hour chart: Look at Thursday from 12pm to Friday 4.30p ( 5 candles) . What do you see? Almost flat line! (Rate of change). We know that an object needs to come to rest before changing direction.

Let me make this really interesting and detailed:- Look at these times on 4 hour chart!

15 Sep 12pm - 21 Sep 4.30pm
6th Oct 12 pm - 9th Oct 4.30pm

Repetition of patterns is what TA is based on.

What i think or feel doesn't matter. All of you are free to google each of the points i have posted and do your own research. TA is very simple if you know what you are looking for. Just keep your personal opinion and emotion out and look at FACTS!

We are OVERSOLD and I expect VALIRX to move up!

Could this be a DB? Buyers coming in! I bought few more today!

Great for a nice top up tomorrow morning. Let's hope we get a small dip.

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It was a long wait and we all kept our faith in Tils!

Next level we have is 1.70p, we break this then £2 after that i ONLY see £3!

Been buying from 2.1p...... every time there is a dip i buy few more. Since BUFFET moved into gold i think next few years everyone needs to hold few good gold companies.

My other Gold holding is LND, ARK!

just follow the money......bought more today!