Potential Breakout Alerts!

[debtfree]

Hi Pav,

In relation to CNU ... does the light volume on some days concern you with this one compared to the others?

 

[pixel]

Hi Pav,

In relation to CNU ... does the light volume on some days concern you with this one compared to the others?

Red candles on low volume after green candles on better support are often a sign of retreating supply.
Hence today's early rise above recent resistance.
How much of that is due to general Market euphoria, as opposed to a sustainable breakout, remains to be seen. I haven't bought any yet, but have added CNU to my watchlist.

 

[debtfree]

Thanks Pixel, I appreciate your reply and I understand what you are saying.

A couple of extra thoughts if I may

Thinking that Pav or someone might risk $500 on this trade and his stop loss might be roughly 8 cents away, he would purchase roughly 6,000 shares.

Naturally his stop loss would be involved and hit with a red candle I would presume, so it is the low volume on the red candles that I would be worried about.

For instance, volume on the 27th Aug was 6,000 for the whole day, yes I know that day might not have triggered his stop loss but there are getting out days (red candles) that are also very light in volume where extra slippage would occur. You don't want to struggle getting out when you want out.

Also I'm sure your not saying it's nothing to worry about at all but I thought it would be best to ask the question.

Once again thanks Pixel

Cheers ... Debtfree

 

[pavilion103]

Hi Pav, In relation to CNU ... does the light volume on some days concern you with this one compared to the others?

Yes. It's speculative for sure.

 

[debtfree]

Thanks Pav

 

[barney]

This would be close to being considered a potential breakout. Little bit more work to do, but based on the info ....

The big spike back around July was kind of out of the blue.

The Stock has not been dumped since the spike. In fact there has just been a Cap raise at well under the current SP. Management fully supported the CR. It was fully underwritten, and key Management is the Major Shareholder of the Company.

There has been strong recent historic volume around the current SP.

There is a serious drilling programme about to start/just started

Management have recently confirmed in ASX reports that they have literally been picking up gold nuggets off the ground around their lease ..... and quite a lot of them!

My assessment is, if they happen to find the bedrock source of the obvious gold which is there, it will likely increase the current SP exponentially.

Bear in mind it is still very Spec at this stage and the drill results are not known, so treat with appropriate caution.

I own the Stock so my appropriate caution is already factored in, some of it at higher prices than the current SP. I am hoping this stock may be my retirement package in a couple of years time ...... we can only dream

 

[Evolve]

Cheers for the heads up Barney, wish i'd seen this earlier. Definitely worth a look.

 

[barney]

Cheers for the heads up Barney, wish i'd seen this earlier. Definitely worth a look.

Sorry I missed this post Evolve ..... Yeah LSR certainly have potential, large land holding, tight register, Management heavily invested in the Co., just up the road from Sandfire, Sipa etc., and picking up multiple nuggets off the ground can't be bad .... All they have to do is find the source ... sometimes easier said than done of course!.

Cheers.

 

[Wysiwyg]

All they have to do is find the source

I take it the pies and sausage rolls have arrived then?

 

[barney]

I take it the pies and sausage rolls have arrived then?

Source Wys, not sauce

Seriously, this is one of the two Specs I own ......... If they hit the mother load, I'm retiring

Pipe dream, yes ..... Possible? .... same answer

 

[pixel]

Re: Outstanding Breakout Alerts!

Would you consider SDL a candidate for a breakout in the making?

 

[Nortorious]

Re: Outstanding Breakout Alerts!

Would you consider SDL a candidate for a breakout in the making?

View attachment 61075

Possibly.... easy answer right.

Looking at SDL using a weekly chart, I would want it to break through the 30 week weighted moving average first, then retreat back down and then put some effort to break that previous high (the one that got through the moving average).

At the moment, this is looking like it will go sideways some more (on the weekly chart). Daily chart looks better with some nice volume, but I think this will head down again soon. For it to be considered by me, it would need to clear and hold above at least 0.14 before I would trade it.

 

[Nortorious]

Re: Outstanding Breakout Alerts!

Would you consider SDL a candidate for a breakout in the making?

View attachment 61075

Certainly a nice base forming though for a great move later...

 

[tech/a]

TNG

 

[Nortorious]

Thanks for the post tech/a.

I don't like the look of TNG based on the weekly chart, still looks to be pointing downwards to me.

NCM seems ripe for a run up following a successful close on Friday to finish the weekly bar exactly how I wanted to see it - up bar moving above the previous high (that broke through the moving average sending it sideways), increased volume (*as you know I am particular about that increase).

Here's the weekly chart -

 

[pavilion103]

If the market pushes up from here, these could feature well.

 

[pavilion103]

 

[pavilion103]

Currently in this one. Didn't take off as hoped. But could be good if it breaks higher.

 

[pavilion103]

 

[Nortorious]

If the market pushes up from here, these could feature well.

View attachment 61339

Nice work identifying this one Pav.

I don't see this one continuing its run just yet - based on the weekly chart. I'd be expecting this to pullback and go sideways some more but you are right, the overall market might make this one float.

Once it is ready to go though, certainly some nice % gains in store.