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RCF, REDCLIFFE RESOURCES LIMITED
caitlyn
post Posted: May 15 2008, 01:12 PM
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It's been a few days and PRE is still testing support at 3c, it's tight to the trend, so a hold here will hopefully see it bounce.

QUOTE
we'll know within 5 sessions


Taken from the other day, that leaves us Friday or Monday for a possible move.

The times are my way of testing myself, never take it as a reason to buy/sell. smile.gif

 
serpie
post Posted: May 13 2008, 10:32 AM
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In reply to: woddonnee on Tuesday 13/05/08 12:20pm

Any of you guys want to have a look at the IBA chart for me? Holding IBA as well, and to me the chart looks pretty good (aside from the RSI being at the top end).
If anyone would like to have a look and comment on the IBA thread I'd be very grateful.

My apologies to PRE holders for using this thread for this request.

 
woddonnee
post Posted: May 13 2008, 10:20 AM
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In reply to: caitlyn on Tuesday 13/05/08 10:09am

G'day
Nice charts Caitlyn
Serpie, I think the point of charting is not to "think" too much, it's just to learn how listen to what the market is saying. Thinking and t/a should be kept separate, if you get what I mean. Too much thinking influences the listening and causes incorrect analysis.
cheers
Rod

 
caitlyn
post Posted: May 13 2008, 10:09 AM
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In reply to: serpie on Tuesday 13/05/08 10:05am

The charts reflect the emotion behind the stock blink.gif

Bring on the happy days biggrin.gif

 
serpie
post Posted: May 13 2008, 10:05 AM
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In reply to: caitlyn on Tuesday 13/05/08 12:00pm

Thanks Caitlyn. Much appreciated.
Sounds very much like the sharetraders equivalent of the chicken and the egg!

 
caitlyn
post Posted: May 13 2008, 10:00 AM
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In reply to: serpie on Tuesday 13/05/08 09:51am

Never discount the sentiment as it's the emotion that ultimately drives the price action, however the support/resistance lines are common with or without the sentiment changes. The stock will move between these lines up until something changes the sentiment to drive it above or push it back down.

Some lines are more pivital in the change they create, in PRE's case movement back into the 4's will change sentiment and get people interested. From then on it's the fundamentals which dictate where we go.... the S'n'R lines will be the leading signal for the possible changes. smile.gif

 


serpie
post Posted: May 13 2008, 09:51 AM
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In reply to: caitlyn on Tuesday 13/05/08 11:42am

I can see what you mean by a "swing" (learning more about techy terms everyday) but am keen to know how generic market conditions, such as those experienced in the middle of January, and seen so clearly in the PRE chart, affect your analysis.

Do you discount the portion of the PRE chart for the second half of January because it had very little to do with PRE, and was more related to market sentiment, or is this portion of the chart as relevant as any other?

Keen to know more about how you techy's think graduated.gif

 
caitlyn
post Posted: May 13 2008, 09:42 AM
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In reply to: serpie on Tuesday 13/05/08 09:37am

QUOTE
Next resistance level after that looks to be about 5.8c?


Will need to show strength through the mid 4's first, which will be the swing if 3.7c is broken. smile.gif

 
serpie
post Posted: May 13 2008, 09:37 AM
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In reply to: caitlyn on Tuesday 13/05/08 11:24am

Thanks Caitlyn,

I'm about 80% fundamentalist and 20% techy, but the guy that suggested I have a look at PRE is more of a techy (and does well at it) so will be very keen to see your chart.

The fundamentalist in me says that it will be the 1TCF announcement that will make PRE go nuts, but that resistance at 3.7c looks key for a steady uptrend before that announcement.

Next resistance level after that looks to be about 5.8c?

 
caitlyn
post Posted: May 13 2008, 09:24 AM
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In reply to: serpie on Friday 09/05/08 01:58pm

Here we go serpie,

Chart I'm watching... continues to hold 3.3c, the white line has been crossed and PRE is holding the green trend, 3.3-3.5c is the tight band, volume either side and PRE will follow.

3.7c is resistance to break, we'll know within 5 sessions.... smile.gif
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