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one fat lady

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Looking at the action from an armchair perspective of a shorter term period to tasteofmoney's contribution. It it looks like it could have enough momentum to get past the 30c resistence point that was originally suggested by kiwi. From what I can tell, 35c looks like the next resistance point to follow.

 

We have increasing MACD and RSI and volume to go with the price. From a pure price to volume perspective, I think that friday's action of higher price on higher volume is confirmation of monday's movement (A rule of thumb that I read in the IBD book is that if you get higher price on high volume and then another distinct upday on relatively high volume within 7 days, it signifies a "true" break out and establishment of a possible new uptrend).

 

Or is it a pump and dump? Any thoughts?

 

Hi Muns,

I saw that you know quite a lot about BQT. Do you have any idea for what the recent activity could be? Beyond what I asked the other day,

QUOTE
Wouldn't this be anticipation of good news coming, even if a month (I'm not predicting that) away?
, I would not know whay this could be. So any insight you might have will be appreciated mate.

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QUOTE (romaioi @ Sunday 23/01/05 06:41am)

Hi romaioi

Excellant analysis.

 

Just too add one more feature is what is often called a Rising Three pattern. Its not a perfect reflection of this, but its pretty close.

 

A rising 3 pattern is a continuation pattern that consists of 5 candles. The first candle is a long green candle, as we had on the 17th. It is then followed by 3 candles, usually smaller bodied and confined to the range of the initial green candles (between its hi' and low)

 

The final candle is a long green candle again that opens at or above the close of the initial green candle and closes higher again.

 

It works best in an existing uptrend, which we dont have ... but the psychology of the pattern is still valid. IF we have can now stay above the mid point of Fridays range, we will have further confirmation of the bullish nature of BQT. If BQT cant close above the 28c in the early part of the coming week, then BQT maye well reverse.

 

YOu will see these "3 down days" in a stock often ... and to then be followed by a Bullish candle shows that the maket is favouring the BULLS and that the 3 down days lacked conviction. You can see this in the volume of each associated day.

 

So lots of "IF's" http://www.ShareScene.com/html/emoticons/cool.gif

* We need to get above that 29/30c area. This is where the previous uptrend started from, and will really spark some interest. It also seems to be where the forums began focusing on "supposed contracts coming" ... oh it all sounds so familar.

 

* Once above there, that will become support and we can target our next price level, this being, for me, 33c.

 

Interesting times ....

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QUOTE (thekiwi @ Saturday 22/01/05 02:14pm)

Thanks Kiwi,

 

I didn't know that one. If it gets past 29 I may buy more. Are you buying more?

 

It is looking interesting.

 

 

Thanks again.

(though you and I have just been criticised on oze - mainly me, you for agreeing LOL). Someone has lots of time on their hands.

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Yes, thanks for those charts guys .... all very interesting ....

 

bqt looked very strong on Friday and hopefuly some of the charting people will have been watching over the weekend. Be nice if it could coninue the run into this week. Open may tell the story. An announcement before open would be even better.

 

regards

 

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In reply to: minusten on Monday 24/01/05 10:47am

Getting really dumped on with 2 quite large at market sells ... the latest sending it to 26c.

 

Going to be an interesting day

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