Potential Breakout Alerts!
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Re: POTENTIAL BREAKOUT Alerts
G Day Nomore4s
Not in it just yet. Strong close but the volume is not convincing. Will watch it closely though. The resistance at 4.65ish is hopefully now the support.
G Day Nomore4s
Not in it just yet. Strong close but the volume is not convincing. Will watch it closely though. The resistance at 4.65ish is hopefully now the support.
Re: POTENTIAL BREAKOUT Alerts
Fair enough, because I trade off the EOD charts and I can't watch the markets all day my entries are done via trigger orders once a certain price level is triggered. This means I can't monitor the vol till after the close.
I actually like to enter on a break through the white line in set ups like this with a stop under the low of the triangle. But because I already hold parcels in this stock I didn't enter there but I did pyramid in today @ $4.70.
Fair enough, because I trade off the EOD charts and I can't watch the markets all day my entries are done via trigger orders once a certain price level is triggered. This means I can't monitor the vol till after the close.
I actually like to enter on a break through the white line in set ups like this with a stop under the low of the triangle. But because I already hold parcels in this stock I didn't enter there but I did pyramid in today @ $4.70.
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Re: POTENTIAL BREAKOUT Alerts
Another option is to enter 1/2 your position above your white line then the remaining 1/2 if it goes above your upper trendline (red) on high vol.
Another option is to enter 1/2 your position above your white line then the remaining 1/2 if it goes above your upper trendline (red) on high vol.
Re: POTENTIAL BREAKOUT Alerts
ive been in and out of this stock 6 times. kept seeling too early. last time was on friday where my order got processed during pre open
it somehow broke through the 40 cents resistnace (like over 100 sellers agains 10 buyers) during pre open. and now its 48 cents with plenty of volume. so i think it will break that 50 cents easily this time.
*kicks himself*
ive been in and out of this stock 6 times. kept seeling too early. last time was on friday where my order got processed during pre open
it somehow broke through the 40 cents resistnace (like over 100 sellers agains 10 buyers) during pre open. and now its 48 cents with plenty of volume. so i think it will break that 50 cents easily this time.
*kicks himself*
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Re: POTENTIAL BREAKOUT Alerts
GMG didn't quite run through that 50 cent barrier today. What is your prediction after today's carnage?
GMG didn't quite run through that 50 cent barrier today. What is your prediction after today's carnage?
Re: POTENTIAL BREAKOUT Alerts
well because of 2 factors in the announcement made today
1) being that the chinese deal was expected to be around $1bn (in retrospect this whole deal with the chinese was what probably drove the rally) but it turned out to be short of half a bn$ and the annoucnement strictly says "no more"
that definitely disappointed the market a bit
2) the options were at 40cents which explains the massive selling down close to 40 cents today.
i think tommorrow we will definitely see it touch 40 cents. but theres alot of buyers supporting it at the moment, but from my experience over this month, even "strong support" cud be wiped out in an instant. but also, 40 cents was last months resistance, fingers crossed it will hold.
i have my money on "support will hold and we will see a recovery", but it all depends on the market tommorrow. my entire portfolio got trashed today.
in my personal opinion though, i see the financing thing as good news, despite falling short of expectations. it just means this company's future is a bit more certain now.
well because of 2 factors in the announcement made today
1) being that the chinese deal was expected to be around $1bn (in retrospect this whole deal with the chinese was what probably drove the rally) but it turned out to be short of half a bn$ and the annoucnement strictly says "no more"
that definitely disappointed the market a bit
2) the options were at 40cents which explains the massive selling down close to 40 cents today.
i think tommorrow we will definitely see it touch 40 cents. but theres alot of buyers supporting it at the moment, but from my experience over this month, even "strong support" cud be wiped out in an instant. but also, 40 cents was last months resistance, fingers crossed it will hold.
i have my money on "support will hold and we will see a recovery", but it all depends on the market tommorrow. my entire portfolio got trashed today.
in my personal opinion though, i see the financing thing as good news, despite falling short of expectations. it just means this company's future is a bit more certain now.
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skc
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Re: POTENTIAL BREAKOUT Alerts
The recent spike up was due to the inclusion in the ASX200, causing some mandatory buying from fund managers.
It is a pretty good stock on a fundamental basis, with low PE and still some growth. Not bad on the charts either.
The recent spike up was due to the inclusion in the ASX200, causing some mandatory buying from fund managers.
It is a pretty good stock on a fundamental basis, with low PE and still some growth. Not bad on the charts either.
Kryzz
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Sean K
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Re: POTENTIAL BREAKOUT Alerts
Boggo, What is the trading range that this is potentially breaking out of? Through $3.25?
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Re: POTENTIAL BREAKOUT Alerts
Sorry kennas, didn't see your post until just now.
Re the break out, just a new high not seen since last October, nothing scientific.
(click to enlarge)
Boggo, What is the trading range that this is potentially breaking out of? Through $3.25?
Sorry kennas, didn't see your post until just now.
Re the break out, just a new high not seen since last October, nothing scientific.
(click to enlarge)
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