RE: Further3 Apr 2014 03:15
If the guys at LSE let this through, I've done a piece which will read as below. Good luck. The chart doesn't entirely stink.
I’ve noticed I start my weekly mutters with a rant about what anyone has said in Regular Chat about my weekly witter. In defence of myself, there was some utter nonsense written by someone, presumably a ramper, when I mentioned the probability of SAV heading to 5.75p while the share was trading at 9.375. I produce movement projections for a living and don’t produce a column if I expect to be wrong. The Big Rule I’m supposed to adhere to is remaining aloof but when some “idiot with an agenda” calls my skills into question to promote his case and cost private investors money, I get irritated.
Many professional analysts don’t even bother discussing shares such as Gulf Keystone due to the ‘agenda politics’ amongst contributors to discussion forums and without a doubt, this avoidance policy has now cost many investors rather a lot of money.
Anyway, guess what? Three weeks later and SAV has achieved my drop target. Now, I’m at risk of looking like a prat as ideally it should now bounce.
Provoking this reminiscence was a plaintive posting in Premium Chat about rampers infesting the TYM discussion forums. Against this particular share, I’ve ample room for a polite cough as I suspect whoever is waxing lyrical about the share perhaps has a point.
Currently trading at 10.875, it need only close above 12.4 and I’ll regard it as going up. In such an event, my initial expectation is 14.75p but the elephant in the room insists I mention a longer term 19.25p. The crazy thing is, when I view the shares price history, a potential such as this even makes sense.
This is the funny thing about charts and technical garbage. I regard most of it as errant nonsense but when I can calculate a target level, then draw it on a chart while also using an absurdly basic method of drawing trend lines, I can then decide if targets make any sense. In the case of TYM, they do and thus, any rampers are perhaps not being silly. And it’s not often I will write that!
Of course, all the share need do is start going up… I borrowed a crayon from my grand-daughters colouring box and drew a light blue line. If TYM starts trading intraday above this level (currently 12.7) I’d be comfortable growth of integrity is commencing so it’s perhaps worth keeping an eye on.