POG - down 30%

* The DI(+) saw off a strong strong challenge from DI(-), other technicals support continued upward momentum, whilst volumes are increasing (but remain relatively low). It could have legs to ~ 80p as the first point of resistance.


* Indeed that is a Harami. Very rare. Good spot by the much-maligned folks at "British bulls" (an oxymoron given the FTSE's under-performance relative to the S&P and DAX).

Disclaimer: Just my view folks - and not trading advice!

Good luck folks!

CC: POG iii Board.

Sorry...was in the share tips 2 weeks ago...
Nice breakout and then a back test followed.

This has already had a 123 low breakout..This happened last week.
This was in last weeks share tips I think.

Monkeyz wrote: Possible 1-2-3 low entry above 77p on this one?

dl.dropboxusercontent.com/u/24866576/Dec...k%20PLC%20301213.png

M.

Possible 1-2-3 low entry above 77p on this one?



dl.dropboxusercontent.com/u/24866576/Dec...k%20PLC%20301213.png

M.

Thanks Remo

Shotry wrote: OK sorry Remo, of course it is so does that mean there is no value at all to the pattern? Obviously as a H&S it would be valid at the top of a rise but does it have any value here a the bottom?

Hi shotry
The value of a head and shoulders pattern comes when it forms at the top of a trend and not at the bottom. When it appears at the bottom its likely to be a trading range or some thing similar. So there could be value in it but its most likely some thing else.
If it was an inverse head and shoulders then that has to be at the bottom of a trend.

Now with pog its best to look for a 123 low formation. This did have one back in july and that gave us a nice profit.Since then its come back down again. So chances are its in a sideways trend now and the level to keep an eye on is 88.If this can finish above that then this could head back to 135.

heres my chart...

dl.dropboxusercontent.com/u/4899609/pog24thoct.png

support...68(strong),,63
resistance...88,,127,,135,,137(gap)
hope that makes sence.