It seems that 265c is this share's new support level and I think SIM is a great long term investment and could be profitable for any day traders for its high day-to-day volatility. What do you guys think?
SIM is setting up a classic swing trade - my favourite type of trade. Although, almost all the gold miners are entering the same setup. One golden rule though - you absolutely must wait for confirmation of a new uptrend. (my rules are one ATR move in the opposite direction, preferably with a bullish reversal candle)
Hmmm, it appears SIM along with other gold shares are setting up a swing trade. I looked for ATR in Standard Bank Price charts, but couldn't fine one.. do you calculate and draw up a graph by yourself? Average True Range: - Current high less than current low - the absolute value of the current high less than the previous close - the absolute value of the current low less than the previous close Am I right? I see the new resistance level is at stubborn 230. I think the candle is reversal one now, but maybe not bullish enough to confirm the uptrend.