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R 200

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Super Contributor
Working nicely from the R200 entry point
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10 REPLIES 10
Super Contributor
I can see why you bought on the daily chart.I was a little concerned about the sell divergence (starting March 2012) on the weekly rsi,but I still don't know whether to place any emphasis on these-sometimes they drag on for months (as this one has) without having any effect.Probably better to just follow the daily chart and have an exit strategy (as always)if things go wrong.So I've learnt something from this!
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Super Contributor
the reason for buying this one is because the stock was doing a head and shoulders but then broke out of the left shoulder at R200, a break out like that is, in my observation, a bullish one. The weekly 14 day MA on the RSI has also just broken up above the 9 day SMA: to me this means the weekly chart has just given a buy signal. The stock still needs to clear R210 though to confirm a strongh break-out on the hourly chart, then R220 and then the sky is the limit.
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Super Contributor
Well I got a few at 20441 figuring the H and S still has some way to go.Looks like I was just in time!
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Super Contributor
Praying for a close above R210 today:
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Super Contributor
How much of your profit are you willing to share with me , if i pray with you?
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Super Contributor
I hope it doesn't, but it wouldn't surprise me if it pulls back to test the neckline around R200 before it gets going again.
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Super Contributor
why are u hoping for no close above R210 today. Anyway does not look likely with only 1 hour of trading
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Regular Contributor
Russ - Sponono - i am also waiting for it to get down to around R197 198 support - if it gets there!
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Super Contributor
I meant I hope it doesn't pull back.
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Super Contributor
I hope the pullback is complete and it can get going again.
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