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No probs chris
Look at ascending triangle rather than pennant , as more in line with what I was trying to explain
These retraces happen all the time , the charts can help make better entry exit etc . But as stated you can’t guarantee anything...
We will soon see if what I put out there is bang on the money or a load of rubbish. I’m happy to put a view out but always stress it is just my view and something to consider.
Best of luck
Chris stocks
Support is around 39/40
Long term rising channel drawn from nov low and jan low crosses
Gap from mid feb filled at 40.3
Fibo support from both long and short term highs and lows circa 40.5
4h rsi is oversold
As I said it previous posts the gap should fill but with all the other support should bounce from there , by the looks of it tomorrow!!
If I’m wrong and it smashes through all the resistance - it is likely to be a bit of free fall . I’m calling that this is unlikely
I’m going for quick gap fill on open and then back on the rise - possibly to 52 where we are in a rising pennant , which is basically a squeeze from below with lower lows until there is no where to go other than up through the 52 at some point (the rising channel bottom meets the 52 top mid may)
That’s my take on things.
It could obviously play out very differently so please don’t rely on this. I have a few k on the table so relatively confident , but as with everything I don’t know this is going to happen , if I did I would be remortgaging the house and putting it all down here tomorrow am (which I am not doing)
GLA
just saw a sharp drop and recovery but didn't quite fill the gap , filled 1 buy order I had at 41 and have another at 40.5 waiting to go. interesting to see if this theory pans out!!! gap will be filled at 40.3
watch this space it really needs to bounce from there or we could be heading to low 30's in my opinion
Hi all I’m
New on this board but holding CPI, looking at the technicals we have a Gap to fill at 40ish , this coincides with the rising trend some point next week and should also see the daily rsi at a low ...therefore should bounce from there.
My opinion only and by no means an expert... has anyone else noted this?? I have read back through a few pages but couldn’t see anything to apologies if posted earlier
Bladey that is fair enough especially when someone new posts on a board .. I get it.
Geng has my respect , time will tell if they gains yours and anyone else’s .
I’m not commenting further as not currently invested here and don’t feel it’s appropriate , I’m sure Geng can fight his or her own corner if they wish to do so
GLA
Geng is highly experienced and its of course ok not to listen to his views as everyone has their own opinion. However I have followed his apparently absurd calls on bp , all of which came to fruition. I myself pointed out the gap a couple of weeks ago on here ... sold out at £2.18 and now waiting...if it doesn't happen then so be it..but it IS a risk to ignore it.
I recall a guy on RR who called drop after last years rise to 127 ..he got heavily slated as it wasn't what people wanted to hear..he was a lone voice but was correct.
Please respect what peoples views are even if they don't correlate with your own..they may just be right
I can give a small insight to the tiny transactions. On 212 it won’t let you spend all your funds in one transaction
Eg
Say you open an account with £500 and want to use all of it to buy Alba
You can only buy circa £450 max in one transaction
Leaving £50 of which it only lets you buy £45
Leaving £5 which it only lets you buy £4.50
And so on until you have used the whole £500. Figures are approx as can’t remember the exact but I know it won’t let you do a transaction that uses 100% available funds
Eyes right pretty much sums it up. Taking some advice is a good idea and something no one on any of these boards can offer .
Depends on many factors that ultimately you only know and can decide on. A balanced portfolio risk weighted to your own choice is the only way ahead. Personally I would have a big chunk in market trackers eg s&p that has shown consistent growth . A few quid to have a discussion with a financial adviser is a must.
Remember to look both ways... plenty of growth shares have tanked in the past never to recover whilst others have continued their path.....
Be cautious as it’s hard to earn money when you are 80+ but retain an element of risk if you wish to keep your brain active :)
Wish you well with the decision
Averaged down again to 79 , really tempted to go full in on this but would be stuffed if it dropped . Volume dropped off a bit today and director buys give confidence. Appears to be holding the line on nov low. Might be one more day procrastinating around these levels and hoping for a move up early next week!!! ... potentially quickly to mid 80’s all being well. All that said it will prob now drop like a stone lol
U_R
I agree hard to call just at the moment but if it goes down I’m looking at 52 circa 20th March where the trend line converges with the sept high. I will average down if it gets there but currently holding as at my limit for this stock at the moment averaged 58 .
Signs of reversal ?? RSI oversold and Daily MACD close to crossing the signal line
In at 1292 yesterday
Boooooooommeister
For many on here I hope you are right. For me I’m very happy with my gains made since November .
I sincerely wish everyone one the best with their own plans
Have a great weekend all and a Boooomtastic March ;)
Well done all a great day
I’m totally out now , exit this morning . Interesting to see Geng’s analysis .. if the retrace does happen then I will be back but for the the time being good luck to all and keep sharing your views .
Sigma .... keep up your TA ;)) #teamTA
Happy you are the most committed board poster with an unequalled handle on Bp... you should be applauded
GLA