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TOM168, whats your call?

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m9o
Contributor
seems to be on support of R141, and has rejected a break above 21day SMA. where could this one be heading?
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29 REPLIES 29
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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.
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John_the_Baptis
Contributor
I'm bleeding here!!! AvS, looks like it will close well below the 138 support line, at this rate it might even reach 131. how much lower? do you think is 122 is on the cards?
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Looks like we're heading towards the low 120's. I'm still out, waiting for the reversal.
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Maggie, seems Preston have now got your sub-130!
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Il go short at a pullback at around 134
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ms
Contributor
ouch this has just hurt me badly!!!!!!
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yeah - channel breaks are risky and volatile things at the best of times. But this one has dropped like a brick!
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ms
Contributor
and it was holding so nicely but then just dropped
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platsak
Super Contributor
Tom and avs. 125 and falling (albeit on low trading volumes). Are we looking at 120 and/or even lower levels?
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Low volumes is good. I'm in at 125 and waiting at 122. Psycho-stop at 119
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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 . . . ?
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....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:-)
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upto to 126, good profits to be had already even if just a bounce!!
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John_the_Baptis
Contributor
129...go you good thing!
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ms
Contributor
im hoping for the 130 break........volume is good and its playing cath up from last few days, cmon!!!
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So what do you guys reckon for today? Close the gap & take profits at 133?
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barry_1
Super Contributor
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.
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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.
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Yeah I hear you. I wasn't watchin this morning, so I missed the peak at 132. But if she pulls back below 126 I'll bale out with only 10% profit as opposed to around 70% at 132.
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