SBM failed once again at 65 making that level even more difficult to break. I think POG stifled this one unfortunately.I qualify the above. Seems the shorter term resistance will be more around 63 ish. So, potential breakout between 55 and 63, then breakout at 65 IMO.
Curnamona Energy Ltd (CUY)
60m shares @ $2.53 = $151m
Havilah own 50.6%.
Curnamona region of SA containing Lake Frome is highly prospective for U containing Beverley, Oban, Gould’s Dam, and Honeymoon. Has very large tenements to the N, E and S of Frome with well defined palaeochannels running through.
Oban deposit in Curnamona seems to have economic deposit but hasn't a defined JORC yet.
Announced on 13 April that Oban Field Leach Trial set to proceed. If successful they are going to seek further approvals to mine and export uranium.
This seems well advanced compared to other U players, even though there’s no JORC.
Breakout of what Dom? Breakout of freefall? Hope you had a parachute. 45 cents is the next support level. Hope it turns around sooner than that for you.Good morning,
I beleive agy today will break out because the the updated news sent it spiralling downwards whithout justification and for the long term i think it is a promising stock to hold.IMO
Dom
This might have broken up already. Not too sure how much resistance there will be at 11. There may have only been a few buys there at the previous spike. Support at 9, until 9.8 ish is tested and confirmed. Indicators are pretty bullish. Looks good, but may fail if the overal market falls back in comming days/weeks.kennas can u post an AUZ chart please
NWE finished OK and has had 2 of it's better days in recent weeks. Somehow broke out of the .175 - .185 range to finish on it's high of .195. Indicators are all lined up to say it's going to break up, IMO. (subject to Mr DOW probably.)
(holding)
Yes yes, but we know why that is, don't we?Kennas.
Im waiting for this to close above 20.
This has had an even skinnier candle before on even bigger volumes and got knocked back, and no, there was no correction that time, it was just being a dog, LOL.
Poor market sentiment for some reason.
Hopefully that will change soon.
This should be a 30c stock based on fundamentals.
This might have broken up already. Not too sure how much resistance there will be at 11. There may have only been a few buys there at the previous spike. Support at 9, until 9.8 ish is tested and confirmed. Indicators are pretty bullish. Looks good, but may fail if the overal market falls back in comming days/weeks.
Hi Chorlton,Hello Kennas,
Nice charts !!! Can I ask which software you use? It looks like Sharescope but I'm not too sure...
Additionally, could i ask a couple of questions regarding your strategy, if thats ok?
1) When looking for these "breakout" set-ups, do you eyeball the charts or do you reply of some form of scanner to find these patterns?
2) When you decide to enter a position, do you an exit price already established and if so, can I ask how you would calculate this??
Many Thanks,
Chorlton
PS. Keep up the excellent posts....
Hi Chorlton,
I use Bigcharts and the indicators come with them. You can add any you like to the chart. It's free.
I don't scan any charts mechanically, I just 'eyeball' them. I try to follow my my entire watchlist, which is about 100 stocks. I put them on the list for a variety of reasons. Most I have found here on ASF.
Once a chart is forming some sort of pattern, and getting closer to a position where it might breakout of that pattern, I make note of it and then continue to watch it more closely until is on the cusp.
The patterns I usually look, amongst others, are Cups and Handles, Head and Shoulders, Pennents, Flags, Obvious channel trends, and stocks that respond to support and resistance points consistently.
I obviously like candle sticks and I don't use OHLC at all, as I can see the same properties of the chart on the candle stick. Plus, I prefer some colour.I think most chartists prefer OHLC actually.
My current exit strategy is very poor, and it's something I need to sort out. It's where traders usually fail, and I am just learning this really. It's not yet in the business plan. It's pretty discretionary actually. It currently varies depending on the market conditions and the stock. I used to just set a sell at 20% gain but found I missed out on some profits doing this. I also used to sell all my position, but I'm more flexible now and may just seel some of my position depending on the stock and the market.I also look at resistance lines more and will sell sometimes as a stock is moving close to one, especially if it is strong. I will also follow the indicators and if the say the stock is still strong and not overbought and is not approaching a resistance line there's no reason to sell. It also depends on where the overall market is. If I think its very toppy, I don't hold positions for very long. Anyway, I'm sorry, I'm rambling a bit. Obviously, my exit strategy is under construction, and I need to read some more Van Tharp.
All the best,
kennas
Chorlton will PM you tomorrow. Cheers! kennas
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