RE: Disappointing Day8 Jan 2016 10:21
Hi KoolTrader
Sorry not to answer earlier but after almost a full working day on the screen I needed an evening off
re - next cycle to be downwards?
The cycles are usually short on this share and also I am talking short term....> tomorrow, next few days .
1 - Take the share price has bounce from 0.475p intraday low to 1.675p intraday high on the 6th, that is a rise of 252% on less than 2 working weeks, a rise like this can not go on for ever, as the ones that bought early will fill like taking profits.
2- Charting - Another point is share prices at this point of rising so much on a short time are reaching a point of overbought on the TA indicators
3 - The profit taking is considered a very healthy retracement, and ready for another rise on the future
How much retracement?
The Fibonacci retracement is a good indicator on those cases, and this morning on moving down to 1.125p was very close to 50% retracement already, the best point is recomnended as 61.8%
Now good luck with you investment, but I am not going to give you any more of my tips just yet.
reason of my comment yesterday-----------> That is most likely the start of the next cycle and is not up