Zak Mir Bull Call 0.025p 1-2 months1 Oct 2015 15:48
http://goo.gl/IFD0RL
There are clearly issues with attempting to trade a stock which is not only a small cap and a volatile situation, but also trades in fractions of pennies. Adding to the challenge is of course trying to make calls on the price action. The trick in such markets tends to be that one should be as picky as possible and go for the significant signals, rather than attempt to trade every one. On this basis the present set up may be one that technical traders of Armstrong Ventures find attractive. This is something which is said in the aftermath of a rebound off the floor of a rising trend channel which can be drawn on the daily chart since as long ago as May last year.
The message at the moment is that given how old the support line is, and how encouraging the initial bounce off it at 0.014p on a two day basis, one would be going for at least an intermediate rebound here over the next few weeks. It of course helps that we are looking at a situation where the stop loss just below the 2014 support line is clear cut – as well as being the floor of the range. In terms of what the upside could be the favoured destination at this point is the main post August resistance at 0.025p over the next 1-2 months.
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