[DON'T BE SHI]
Well I'm into SHI from this morning at a price of 791p. I've just uploaded this chart for a little bit of justification. I'm planning on being in this trade with an exit point of around the resistance point at 884p. My exit point will change depending on it's strength leading up to the break, we might see a false breakout like last time so I'll probably keep a close eye on it in the lead up.
I am out if this triggers a 773p stop.
I don't envisage this rally to last too long (if at all!) so hopefully it will be a nice quick and clean trade. I'm guestimating that some other stocks, mainly ADN/BKG/MGCR might be ready for entry when I close my position in SHI.
A mid-week recap on my predictions for this week (from Saturdays/Sundays post) blue is good and in line, red is bad and against my prediction.
ADN DOWN 6.94%
MGCR UP 0.11%
AZN UP 6.22% NEWS of patent resolution and cancer cure.
BG GROUP UP 6.31% NEWS of "... biggest oil find in 30 years" lol.
CBRY DOWN 0.36%
LONMIN UP 1.71%
SDR DOWN 5%
Think the rest were unsures, but have now formed enough for amateur predictions:
SOLA is mental, will continue up, potentially unchallenged until 490 - UP 25.86%!
VPC broke the resistance I was checking for and is up 6.54%, should steam on, watch for 750.
BKG's downtime looks over, I predict northwards to upper trend line, by then around 1200 before reversal back down.
PMO up 7.92% since Monday, including some seriously bullish candlesticks, however it is still below my upper trend line. 1554 and 1558 are the resistance points for Thursday and Friday. a break of these will see continued bullish movement. A bounce off these and I expect the SP to drop to support at 1460. A failure of 1460 may lead to lower support at the lower trend line. NB this stock is looking very, very strong today, and I believe is a good for tomorrow morning.
I am out if this triggers a 773p stop.
I don't envisage this rally to last too long (if at all!) so hopefully it will be a nice quick and clean trade. I'm guestimating that some other stocks, mainly ADN/BKG/MGCR might be ready for entry when I close my position in SHI.
A mid-week recap on my predictions for this week (from Saturdays/Sundays post) blue is good and in line, red is bad and against my prediction.
ADN DOWN 6.94%
MGCR UP 0.11%
AZN UP 6.22% NEWS of patent resolution and cancer cure.
BG GROUP UP 6.31% NEWS of "... biggest oil find in 30 years" lol.
CBRY DOWN 0.36%
LONMIN UP 1.71%
SDR DOWN 5%
Think the rest were unsures, but have now formed enough for amateur predictions:
SOLA is mental, will continue up, potentially unchallenged until 490 - UP 25.86%!
VPC broke the resistance I was checking for and is up 6.54%, should steam on, watch for 750.
BKG's downtime looks over, I predict northwards to upper trend line, by then around 1200 before reversal back down.
PMO up 7.92% since Monday, including some seriously bullish candlesticks, however it is still below my upper trend line. 1554 and 1558 are the resistance points for Thursday and Friday. a break of these will see continued bullish movement. A bounce off these and I expect the SP to drop to support at 1460. A failure of 1460 may lead to lower support at the lower trend line. NB this stock is looking very, very strong today, and I believe is a good for tomorrow morning.
0 comments:
Post a Comment