Since tom seems a bit quiet, and I enjoy trading this share, here's my ha'p-worth... Significant support is at 13820 (based on the lows for Friday past and today). The price just so happens to have touched smack on a 23.6% Fibo retracement AS WELL AS the bottom of an up channel AS WELL AS the 50EMA - a very neat confluence of supports. Tomorrow (Wed) is critical. A close below 138 might signify a break downwards - next support being 13120 which consists of the previous low, and I suspect will also line up with the 89DMA at that stage as well as the bottom of the Bollinger bands. And below that support the 38.2% Fibo awaits at 122. On the upside - if 13820 stays intact and the closing auction looks promising, then it might be worthwhile to take a nibble at about 140. The upside targets in the trading channel are around the 175-180 mark for the end of July.
Aren't fibonaccis wonderful things? SO. Who's buying? Just a little heads-up . . . The price bounced off the 23% fibo twice on previous intraday trading, and then dropped through like it didn't exist. It's closed now exactly on the 38% level. The 50% fibo is at 10900 and the 68% is at 9600. Any bets . . . ?
....managed to short today from 127 odd and closed position 120 and then relaoded long at 121 in position for a bounce back up as 122 a support and did end up closing above. reckon more chance of up than down from here!!! we will see:-)
Allways so many short term trades out there,how ever i could not resist buying PPC youngest Standard installment with a six month veiw as it is really cheap at the present price, and such a bargain might not occur again, i am also holding the GND installment which i'll hold up to the interim.
Hi AVS. Took profits at 130 as didn't seem as it would hit 133 this morning, down to 127 again. Not too sure where to go from here? but am out now and waiting. Would love to hear suggestions. Maybe go long with a break through 134. this mrkt not looking great and so volatile I reckon take the easy profits even if that means "over" trading.