Quote:
Originally Posted by mark777
Does that mean it's still a heap of junk?  
Perhaps if you don't mind tarka, someone with an account could post this over on iii for brettypoos comment? |
hehe, it may well still be a piece of junk but I'm sure we are all biased.
If you want to post it on iii you can. I'm no expert investor though, I've done a bit of research on technical analysis over the past year but not really jumped in with both feet yet.
I do have to wonder though, when I saw the price was approaching the 50 day moving average, I thought it was going to move in the extreme one way or the other (sounds daft I know). It was either going to hit a wall of resistance and drop sharply, or the price was going to be forced through the resistance, turning the 50 day moving average into an indicator of support.
Todays action looks like there is now a bit of indecision (chart attached), what is interesting is that the volume traded was greater than the previous day yet the price failed rise and closed lower (with a much narrower trading range). If it drops it will be interesting to see if the 50 day average becomes a level of support.
I'll shut up now and let us get back to the main subject, I just wanted to give a slightly different view on the share price.
Regards...
T