ChartsView Stock Trading Forums UK :: Topic: Petropavlovsk, Shorty. (1/1)

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TOPIC: Petropavlovsk, Shorty.

Shotry OFFLINE Junior Boarder Posts: 368 Thank you received: 199 Karma: 10	I might increase my position also if it retests 363 and then holds above 366. Here's hoping!
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longterm_view OFFLINE Junior Boarder Posts: 327 Thank you received: 294 Karma: 10	POG broken through trendline. Will wait for the re-test / close above 366. dl.dropbox.com/u/21384991/Petropavlovsk%...%204%20%28DFB%29.png
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Shotry OFFLINE Junior Boarder Posts: 368 Thank you received: 199 Karma: 10	Thanks Dan, I appreciate it. I can see everything you're describing and I'm ready to drop the trade if necessary. My stops are currently at 330ish although I'll be dropping part of the trade before that if the 345 is breached.
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Petropavlovsk

I’ve had a look at Petropavlovsk, as I had a few spare mins.

Here’s my take…

It seems at a critical point!

It fell through the weekly support but is now above it, slightly.

Weekly
dl.dropbox.com/u/21384991/Petropavlovsk%20Plc%20%28DFB%29.png

Daily
dl.dropbox.com/u/21384991/Petropavlovsk%20Plc%202%28DFB%29.png

The daily shows negative divergence in that the price is higher but the RSI made a lower low.

Hourly
dl.dropbox.com/u/21384991/Petropavlovsk%20Plc%203%28DFB%29.png

The hourly shows positive divergence on RSI.

I believe the area to watch is a close above 366 for the first signs of a reversal. It’s been below this trend line since the 18/10.

Weekly up trend line sits around 356.9. Below that it’s 345 horizontal and below that is 336,311.

Thanks