Chart looks very good to me today going into the close. Recent low held firm, nice volume / hammer / double bottom possibility. Some issues but technically interesting. A 50% retrace of fall takes you nicely to the ma20 but one would need to have entered at the lows to counter the inherent risk IMO.

Will be interesting how this plays out.

F4T

Thanks F4T,

I'm out, not planning to get back in Afren anytime soon.
Wish I'd jumped back in GKP though, just been observing, great TA by you there mate.

Count,

3 gaps up followed by dark cloud cover, so expected retrace in motion. 50% retracement is ~101 61.8% at 98.50. First suppor below 95.40

BUT I believe that results/news is due soon here and I never trade the unknown in such circumstances.

Nice trade count. I like it. Make a plan and stick to it.

We might get a three gaps up formation tomorrow, which would be bearish.

Target just hit, I sold at 108.3 but may jump back in if this shows signs of continuing towards 119

Hi F4T,
Hopefully upward momentum will continue over next couple of trading days, volume picking up. RSI 14 finally above 30 since large drop in SP on 30July. 123 low gives modest target of 108.35, but possible that may climb to gap resistance at 119.
Lots of rumor, buy out speculation and uncertainty around on the chat boards about this share atm surrounding some previous dodgy director dealings in Nigeria. I bought in at 96.8 but am continuing to hold.

ATB

I would have expected a stronger breakout Count, but it has moved positively.

123 low triggered passing 101.9 this morning, looking good so far at around 104, hopefully upward momentum will continue to target of 108.35, perhaps beyond. Keeping close watch now.

Possible 123 low forming on daily if makes it above 101.9 from here, assumes low of 95.45.
1= 101.9, 2=95.45, 3= target of 108.35


screencast.com/t/VXZiBsxnw

dl.dropboxusercontent.com/u/7238706/AFRENdaily.png

Updating previous posts, this now looks like it is approaching what Remo calls, the patient entry, between 131.10 > 127.00.

dl.dropboxusercontent.com/u/7238706/Afre...LC%20%28mar28%29.png

Well, with reference to my last post back in Feb this certainly turned out to be an ABC, and has retraced to the target area between 50 and 61.8% of the move up from 118.15. It looks like it either has, or is, completing a zig zag. I did expect it to get as low as 134.80, but there is a possibility it completed with the low to 138.90. A little patience may be called for to see what develops or go long with a stop below 131.10 for the brave.

The forecasted top for the next move up should ultimately make 185 but not directly: there will be some dips along the way as per usual. DYOR.

dl.dropboxusercontent.com/u/7238706/AFRENdaily.png

SRB,
There are two possibilities here - aren't there always eh - it's all on the chart. The next few days will tell us more but basically, if it goes like a rocket, then it's an impulsive swing, but if it stumbles around the 123% then it's an ABC and we can expect more consolidation before further rises. Let's hope for the former

Diver

Diver

Afren closed 0.2p above the trigger level so an interesting couple of days hopefully. I have 165.90 as the 123 low target and where along side is the 76% fib retracement at 164.59 ( 03/01/14 High 04/02/14 Low )


www.screencast.com/t/qrOAZZlCA2

Yep, I think all fib roads point to somewhere between 185 and 200 by late summer... but 160 looks imminent... thnx for the heads-up
dl.dropboxusercontent.com/u/7238706/AFRENdaily.png

Heads Up

Triangle breakout with a 123 low on the cards so one for the watch list possibly.


www.screencast.com/t/2thMnG8NM


Tight Lines