Chartist advice please

[Aussie2Aussie]

Can anyone give me their opinions on this chart, I will tell you what it is when your opinion is given....a goer or no?

 

[wayneL]

Can anyone give me their opinions on this chart, I will tell you what it is when your opinion is given....a goer or no?

Yes this is a goer, absolutely 50% guaranteed.

 

[treefrog]

Can anyone give me their opinions on this chart, I will tell you what it is when your opinion is given....a goer or no?

on the timeframe posted - no!

the uptrend has been broken and the hasty down on some very bad news - assuming it consolidates where it is - unlikely as last candle is strong bear and has passed the fib 62% retrace and seems headed at least for the 76% fib level - need to be signs of reversal before I jumped in

 

[prana]

short term - no. Looks like it wants to test the 2002 lows, personally I'd get it only if the fundamentals compelled me to believe something will change dramatically, quickly, else it looks like it wants to head towards the second horizontal grid from the bottom to test the 2002 support. I'm not liking this thing myself personally ...

 

[Trader Paul]

Hi Aussie2Aussie,

..... if you can confirm some details about this stock , we may be
able to post some more specific help.

Is the stock code GPO ... ???

... and is the stock's name, GOLD PORT RESOURCES LTD and which stock
exchange is it listed on ???

many thanks

paul



=====

 

[wayneL]

Hi Aussie2Aussie,

..... if you can confirm some details about this stock , we may be
able to post some more specific help.

Is the stock code GPO ... ???

... and is the stock's name, GOLD PORT RESOURCES LTD and which stock
exchange is it listed on ???

many thanks

paul



=====

it's most definitely a bank, I think.

 

[ithatheekret]

It looks like the ZION chart , but I wouldn't be betting on it , the down leg looks like most of that indexes composites .

Gold Port are a penny stock on the Vancouver board from memory .

 

[tech/a]

Its a set-up!

The question shows a lack of understanding of the application of technical analysis in that most expect it to be predictive at any point of time.

The author of the question has some hidden agenda in that clearly the chart is in a down trend and logic would suggest that this is likely to continue. Logic would also see a sizable retracement.

Note that the last trading date is 12 mths ago (Trap 101) so I'll say this reverses from here for the bullish conditions in 2007

 

[Aussie2Aussie]

It is the US bank index going back to 1999 - the stocks of the largest financial institutions on the planet, Citigroup (C), Bank of America (BAC), Wachovia (WB), Wells Fargo (WFC), JP Morgan Chase (JPM) – the institutions where money for our finance-based economy lives.

Would it not be fair to say that they are showing distress, more so than at any other time including ’02, when the market was in free fall; and back then, debt derivatives (CDS) outstanding were a fraction of what exists today.

 

[tech/a]

In the short term yes but over all long term still pretty healthy.