LONMIN

Hi woody
your 230 order was about right. Unfortunately this only went to 233 and bounced strong. This is now considered as a first attempt even thou it missed the actual low by 5 points. Its still close enough to consider it a first attempt bounce so i would not go long on any new retry of that area. Unless its been months.

xWoody wrote: Looks like I was a bit conservative placing my bid at 230p...

When you say 'first attempt' Remo, how close to the 227p support would it have to go to be considered an attempt? If it retraces a fair way now and comes back, would you still consider it a first attempt?

Cheers
Woody

Looks like I was a bit conservative placing my bid at 230p...

When you say 'first attempt' Remo, how close to the 227p support would it have to go to be considered an attempt? If it retraces a fair way now and comes back, would you still consider it a first attempt?

Cheers
Woody

Hi
MTM
This is in this weeks share tips. Im going long on a possible double bottom formation based on a first attempt trade. Stops are very tight as price has not gone lower than 227.
So im going long at 227 on a first attempt trade.
Support: 227
resistance: 275

Diver is right . This is a risky trade but i make exceptions for my first attempt trades as most are aware off.This should bounce on the first attempt of 227 and if it does not then this will fall hard so make certain you use tight stops. This is day trading so im always quick to close out positions.
All my share tips are based on day trading so bear that in mind.


dl.dropboxusercontent.com/u/4899609/lmi18thmay2014.png

Mine the Money wrote: I was wondering is someone could provide support and resistances for LMI.L and a chart if possible. I believe these are the areas to watch as this share could be a good trade.

Supports:
246p
227p

Resistances:
833.5p
924.5p

Enjoy the sunny weather today everyone.

Going back to 1999, this has never been lower than the 246 in Dec 2012 and repeated, at 246.35, on Friday. Therefore, if this doesn't hold there is no support and any attempt to find it is purely gambling and 'bottom-fishing'.

My best advice would be to ignore this until it achieves a 1-2-3 low, which, for my money would mean breaking 298.45 - called it 300. Be patient and wait......
dl.dropboxusercontent.com/u/7238706/Lonmin%20PLC%20%28-%29.png
CLICK ON THE CHART AND IT WILL EXPAND

I was wondering is someone could provide support and resistances for LMI.L and a chart if possible. I believe these are the areas to watch as this share could be a good trade.

Supports:
246p
227p

Resistances:
833.5p
924.5p

Enjoy the sunny weather today everyone.