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Online Share Trading

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Going Strong

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carlowest
Occasional Contributor
This stock is really doing well. Got in @ 305. think i should get some more before 400.
0 Kudos
8 REPLIES 8
Russ
Super Contributor
Overbought.I would wait for a pullback,but your decision.
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carlowest
Occasional Contributor
hmmmmmmmm, okey will wait for pullback rather. kudos
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Not applicable
Russ - why do you say? You don't see momentum for now?
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Russ
Super Contributor
It is in a huge rising channel which started in Jan 2013.If you join the highs of 20 Feb and 12 Aug you will get the resistance line at about 400.Often by the time the share price hits resistance it is overbought and the sellers are waiting to take profit.This can cause a pullback.In addition there is a sell divergence as the price has made a higher high but the rsi (on the daily chart)is lower than the previous high.The picture might change if the price breaks out above resistance and that resistance then becomes support.For now it just seems a bit risky.The support line of the big channel is currently at about 270.I can't see it falling that far but it could fall to about 350.Of course the market might see things differently,hence the decision is yours!
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carlowest
Occasional Contributor
0 Kudos
Russ
Super Contributor
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Russ
Super Contributor
There you go!If you didn't blink at the wrong time you would have seen it hitting 350 lol.
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Dr_T
Not applicable
Is it too late to get into AdaptIT?
0 Kudos