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I thought that whole saga is over now, but I haven't been keeping up with SA news as much.
Probably Maortians...:aliena:
Were you aware of the Sovereign risk associated with PEN's South African Karoo project?
"A SENIOR South African government adviser says investor worries about nationalisation of the mining industry are justified.
Sandile Noxgina, a former director-general of mines and now adviser to Mines Minister Susan Shabangu, said it would take almost a year for the African National Congress government to decide on nationalisation.
Some have played down talk of nationalisation, which is supported by the hardline ANC Youth League, but Mr Noxgina disagrees.
The concern "is justified", he said yesterday at the Africa Downunder mining conference in Perth."
Link
"Malema has no direct policy-making power but is one of the ANC's most popular politicians and has won admiration among millions of poor South Africans and alarmed investors with his calls to nationalise the mines.
Some in South Africa fear nationalisation could bankrupt the country and destroy its credibility among investors. But the idea resonates with the country's poor black majority who see it as a way to spread the wealth from a sector that grew powerful along with white-minority apartheid rule"
Link
Agree that its gonna break out soon one way or another.
Would you agree that the 5.3c support level on the daily chart's bearish pennant is very close to the current support on the long term trend line?
View attachment 44331
I thought that whole saga is over now, but I haven't been keeping up with SA news as much.
"South Africa's firebrand Julius Malema loses appeal against ANC disciplinary
Julius Malema, the embattled head of South Africa's Youth League, has lost an appeal for charges against him of sowing divisions in the ruling party to be dropped.
Mr Malema appealed on the grounds that the charges were "politically motivated" and an attempt at silencing his increasingly vehement calls for mine and bank nationalisation and forced land reform.
But the ANC's disciplinary committee ruled yesterday that he should face "trial" by senior members of the party for his misdemeanours, which included criticising President Jacob Zuma and calling for regime change in neighbouring Botswana.
It also rejected his request for several members of the committee to be removed, including Susan Shabangu, the Mining Minister who has responded unenthusiastically to Mr Malema's nationalistion call.
If found guilty of the charges, Mr Malema could be cast into the political wilderness, allowing President Zuma to run for a second term as party president in 2012 and the country's president in 2014 unhindered by a political rival backed by the influential youth leader. "
source: http://www.telegraph.co.uk/news/wor...ma-loses-appeal-against-ANC-disciplinary.html
His own party isn't happy with him...
and he is facing charges of fraud and corruption added to this.
Would you agree that the 5.3c support level on the daily chart's bearish pennant is very close to the current support on the long term trend line?
View attachment 44331
The bearish continuation pennant broke out today.
"The expected price movement is approximately equal to the distance of the move into the pattern."
Link
Subtracting the flagpole from the breakout point gives a target of 1.9c
Click chart to enlarge
View attachment 44377
Chalea, should we then see a surge in volume tomorrow accompanying a big SP drop?
Chalea, should we then see a surge in volume tomorrow accompanying a big SP drop?
I wouldn't pay too much attention to our amateur analyst
He's not that good at it.
If you have bought (Or bought more) at 6.5-7.3c as indicated in the technical signal at post#1544 then who cares just sit and forget.
To suggest that price respects a displaced M/A is pure lunacy.
I beg to differ...
How do you explain the emphatic almost bearish engulfing reversal candlestick this week.
Every man and his dog was calling "breakout" last week!
The bearish rising wedge has broken out instead...
Target = 4.9c approximately.
Weekly RSI didn't confirm last week's breakout, instead showing a bearish respect of it's center line.
The over bought slow stochastic confirms the wedge break out by showing a bearish signal line cross.
In my humble opinion...
Would you agree that historically, once PEN had a long term bearish MACD cross over and a trend line break then price fell to where the trend started, or thereabouts?
Would you agree that the 5.3c support level on the daily chart's bearish pennant is very close to the current support on the long term trend line?
Click chart
View attachment 44331
Chalea;656878 Yesterday 06:02 PM said:The bearish continuation pennant broke out today.
Subtracting the flagpole from the breakout point gives a target of 1.9c
View attachment 44377
Are these charts actually any good?
or is it purely coincidence?
I tend to think if tech/a is critical of the charting method then there is flaws in it...
But seems to be right? I dunno..
The problem with this analysis is that it's proven in hindsight. It's a lagging indicator that simply shows the closing price over a specified price range which is then smoothed. Though, we're oscillators can come in handy is showing divergence.
The indicator should not be used as the leading tool in this example. The indicator is waiting for the next price action before it can plot it's next point. It indicates where the price HAS BEEN relative to its range.
View attachment 44403
Chalea;648657 29th-July-2011 05:08 PM said:If the MACD falls through it's signal line on Monday the SP will be walloped
$20shoes;648710 29th-July-2011 09:08 PM said:If the price falls resulting in the MACD crossing down through it's signal line on Monday there will literally be no influence at all on the share price. Buyers and sellers will say look at your MAs, remark "how cute" and continue exchanging parcels of shares at fair value for any given moment in time.
Are these charts actually any good?
or is it purely coincidence?
I tend to think if tech/a is critical of the charting method then there is flaws in it...
But seems to be right? I dunno..
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