Bluechip this is either a bear rally or the start of a bull market if a bear rally then prices will after a while continue downward if a bull market then prices will continue to go up.The trick is to decide which it is remembering that bear rallys can last for some time before coming back anyway imo for what its worth its a bear rally.
thanks divs.... so still got a chance to get in. do you think that it could spiral down towardS R60 or EVEN R50... the price chart is very confusing, no real indication of where to next from tomorrow..
I dont think it will go back to those levels but see resistance at 82/78/76 if it breaks 76 we may see more serious downside. Most of the rallys going through the 82 mark just were not very convinceing and i expect it to come back below 82 in near future.
Only a reference to the possibility over the radio. Reinet was also mentioned as a possible candidate to take a position with ASA. This originated from high volumes of ASA shares changing hands last week, but no info available on who the buyer(s)might be, with ASA company secretary on leave, only speculation reigns.
Bluechip. Both the RSI and Stoastic has moved into the overbought position. This useally is an indication that we are nearing the end of the present run within the next day or two or at least that its not the best place to go long. IMO we might see a correction from here or a slight increase in price before it corrects.