TF,

This is from todays III .. hope this helps..
I wanted to buy around 70p, then saw an article saying this could go down to 37p..so didnt buy.
But,I may... if I get a chance... ta G
China is still slowing down..
www.iii.co.uk/articles/272652/chart-week...-glencore-and-others

taking another look Glen...

This needs to hold onto the 20 day moving average at 107.75p (today), to hold onto the gains from this rebound of the lows.
i was thinking it may be a good idea to go long at the 20 day...not so sure now...
if i do go long at the 20 day, it will be with a very tight stop...
a drop below the 20 day, should see 97p gap level, and below that 65p again?!?!

Really this needs to get above the trendline and the 50 day ema, which in itself is acting like a trendline to have a bullish outlook....

uk.advfn.com/p.php?pid=chartscreenshotsh...E%3D&symbol=L%5EGLEN

Regards,
Trendfriend.

Thank you for all the replies, I am really enjoying glencore, it's been a while, (Xel has been taking all my time and money but decided to sell some and invest in Glen again) you have all been a great help, used to read Paitech and remo in the day on ill.

What rises quickly often falls quickly!

Agree on 20SMA at 110 but the more solid support is in the 94.50 to 99 area.

Gap is 96.34 - 99.02 and 61.8% fib is at 94.50. If that coincided with an RSI back test then that would add confidence.





F4T

possibly Chief...
i don't have acces to charts atm, on daily chart can you check for the 20 day moving Average if possible please??
Is it around 110/111p from memory?

I may take a long of that level with a tight stop..
Must play each day at a time with this.... this is dangerous... only trade of support and resistance or the moving ave's.. with stops of just a few pence...imho
Any where is too risky imho..... in terms r/r...

Trendfriend

For a 123 to play out here are we looking at a retrace to 90p before it bounces?

This needs to get above the 50 day ema for additional gains.

You can see from the chart on Friday, this came close to the 50 day, within a couple of pence of the 50 day, before coming down.
If it does break above the 50 day, it should hit the gap, which was between 152/158p. Usually when a stock falls hard, big gaps act like strong resistance..and its take a real push to get above... so imho thats the best case for upside...

In any case this does not look likely to get the 50 day in the short term....
I would keep stops in place to protect capital... and/or bank some profits... just my honest opinion...

I could off course be totally wrong... but i'm keeping stops on all positions atm.. as expecting a fall on my main markets soon... and i have been the "moth in the flame" too many times..

Regards,
Trendfriend.

Shares halt, now what? Is this good because they are sorting things out, if it goes above £1.50, does everyone think it will be onwards and upwards? Is that what your charts indicate?

My trailing stop got hit here just now
its been quite a ride... lol, great week here...
will see where we are next week...

Nice weekend all, ATB...

trendfriend

elsgly.
been trading this all week as well...

im being flexible @ 142/143p 50 day ema.
above 143 look for gap @ 152/158p...
Chart from 6 Oct still good.
updated chart here...

uk.advfn.com/p.php?pid=chartscreenshotsh...FZu7U=&symbol=L^GLEN

Regards,
Trendfriend.

I'm out in my dealing account and in, in my isa, which way do you think this will, is it a good idea to get back in or will next week bring a retrace,
hope everyone has had a good week. I did the wrong thing trading and panic sold ( if I had waited a few days I would have regained losses. Good news is i bought low in my isa
Have a good weekend

Good move..

I suspect from the trading there is fair bit support at around 115, it may go on to test the gap.

However as i i sold i would much rather see the 123 low playing out.

As a caution move stop to profit....

I think this has got some legs to this move, as its holding above the 20 day ema...if it can break 115p i'm looking to go long with a tight stop (just below the 20 day ema). Bearing in mind the main market could dump anytime. I think its still a trade worth taking based risk/reward..

uk.advfn.com/p.php?pid=chartscreenshotsh...SPU%3D&symbol=L^GLEN

i think this may well close that gap between 152/158p before a bigger final drop imho....

Regards,
Trendfriend.

Its amazing how low this went. All you can do now is wait for a 123 low formation to give a green light.
Just following a simple 123 low formation would have meant that you would be out of this share for a long time. Just look at the chart and you can see why its great to trade based of a 123 low formation. There has not been any 123 low formation for over 5 months and that would have meant this share would have been avoided all the way down and it stops the bottom picking that many do.
Ive been waiting to buy into this share for a long time .
This share now needs to pull back so a 123 low formation could be formed.


dl.dropboxusercontent.com/u/4899609/glen5thoct2015.png

Tried to sell but came all the way Dow to 1.02, before TD direct trading would let me in, first time since nat west changed to them I have needed to do a quick trade (not good). Let's hope it keeps going up, (for us holders who were in above 128)

closed @ 112.5p. trade closed, profits taken....
this did hit the target @ 114p....

looking for a possible gap fill @ 97p, or a 1,2,3, low and break above above the 20 day @ 114p to re-enter.
uk.advfn.com/p.php?pid=chartscreenshotsh...8%3D&symbol=L%5EGLEN
Regards,
Trendfriend.

This is looks like its rsi breakout as well... So im long here as well.
first target 114p.
uk.advfn.com/p.php?pid=chartscreenshotsh...5Hr4c=&symbol=L^GLEN

Regards,
Trendfriend.

I can't be in the right place, no one even talking about glencore!

this looked like it wanted to go sub 100p... nearly there now....
uk.advfn.com/p.php?pid=chartscreenshotsh...9lE%3D&symbol=L^GLEN

Close up daily.
uk.advfn.com/p.php?pid=chartscreenshotsh...w1g%3D&symbol=L^GLEN

re-done the chart on a daily the target is 89p...
I'm going to try a cheeky long at 89 with a tight stop... very specualtive, i must admit....
first attempt only...

Regards,
Trendfriend.

This looks like it will go below 100p imho...
Weekly chart.
uk.advfn.com/p.php?pid=chartscreenshotsh...Q4+RNUY=&symbol=L^BP.

Regards,
Trendfriend.