Cookie Policy

Chartsview Blog

The Latest Blogs from Chartsview

  • Home
    Home This is where you can find all the blog posts throughout the site.
  • Categories
    Categories Displays a list of categories from this blog.
  • Tags
    Tags Displays a list of tags that have been used in the blog.
  • Bloggers
    Bloggers Search for your favorite blogger from this site.
  • Archives
    Archives Contains a list of blog posts that were created previously.
  • Login

FRR daily 18/06/13

by in ChartsView Blog:
  • Font size: Larger Smaller
  • Hits: 3544
  • 0 Comments
  • Subscribe to this entry
  • Print
3544
Picture
This type of penny share is extremely hard to analyse and even hard to get right due to the long periods of no price movement followed by huge spikes so I wouldn't read too much into this post (a request).

Clearly the short term trendline broke but a low formed near the 61.8% Fib (could be a permanent or temporary low) so I've drawn a new trendline there.

IMHO it needs to hold that low of 0.7p from a couple of days ago or it could easily go back to that gap at 0.45p or even lower.

For me, this type of share is either an investment on fundamentals or a gamble. Occasionally a decent looking chart develops. Spreads and slippage on stop losses can cause nightmares in these but if I'd bought the 61.8% Fib (I didn't), I'd have stops just below that 0.7p level. If it works out, where it goes from here is anyone's guess - I'd normally use EWT and S&Rs for targets but these shares are so unpredictable
0
Trackback URL for this blog entry.

Comments

  • No comments made yet. Be the first to submit a comment

Leave your comment

Guest Friday, 29 March 2024