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BZM...C'mon ya fooker!
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13 years 3 months ago #951
by Tradesmarter
Replied by Tradesmarter on topic BZM...C'mon ya fooker!
for me there was no hefty volume to "confirm" the breakout....may have just been spread manipulation as I thought may be the case just before leaving this morning.....I'm bullish above 14p and would be bearish below 13.75 (12.5 retest?).....there are still volume sellers out there and many in at much higher prices and after feeling soo much pain many are looking to sell into any spike....I'm expecting that to occur at 19p and only then can this breakout in earnest..it's now above the 20 and 50 day, but this is a stubborn beast and my only view is that I think there is opportunity to accumulate whilst the seller tries to clear out.
Anyway the chart clearly shows resistance at top of channel and found support at breakout "back test" area....that shows that there is no longer a cap on the downtrend, but until we see volume buying then probably too early to be ultra bullish...for now higher lows and higher highs and the bottom triangle and "U" in the making is what I'm accumulating for with 6 month target near 35p....who knows what will happen, but I do like me chart patterns! (mind only work about 50% though!)
Anyway the chart clearly shows resistance at top of channel and found support at breakout "back test" area....that shows that there is no longer a cap on the downtrend, but until we see volume buying then probably too early to be ultra bullish...for now higher lows and higher highs and the bottom triangle and "U" in the making is what I'm accumulating for with 6 month target near 35p....who knows what will happen, but I do like me chart patterns! (mind only work about 50% though!)
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13 years 3 months ago #932
by AdeMcG
Replied by AdeMcG on topic BZM...C'mon ya fooker!
is it now back testing the 14 + p previous resistance / new support?
The movements of this one do baffle me.
The movements of this one do baffle me.
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13 years 3 months ago #926
by ronnie
Replied by ronnie on topic BZM...C'mon ya fooker!
Great charts, loving the smiley face!
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13 years 3 months ago #924
by Tradesmarter
Replied by Tradesmarter on topic BZM...C'mon ya fooker!
off to work, but resistance should now be support...hopefully some volume late afternoon..a few posistions now in profit!, but a few still underwater....33-38p target, but 19/23/27 resistance areas for now.....early doors could just be MM spread manipulation, but glad I've bought more at the 13-14p range.....I'm long term on this one
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13 years 3 months ago #922
by diver993
Replied by diver993 on topic BZM...C'mon ya fooker!
Looks like today could be your day TS. 16 ás I type and decent volume
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13 years 3 months ago #778
by AdeMcG
Replied by AdeMcG on topic BZM...C'mon ya fooker!
hahaha...great chart and some quality annotations to boot !!
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