Australia's largest stock trading and investment forum Australia's #1 stock forum

API

Click for more information

0.74%

$1.35 australian pharmaceutical industries limited

big question marks ??????????, page-117

First 117 Last

Share
Profile

Follow
batikit

1,788 Posts.

4

30/10/17

15:42

Post #: 28318092
Share

Originally posted by batikit ↑

that quadruple bottoms is rare - and it ended with a nice break

If you measure the length of 22 Aug $1.63 and the base at $1.41 , you get $0.22

and the break out is at $1.50 , the peak of this break out is $1.725 (1.50 + 0.22)

This is a text book example of a break out

To predict the next move we can draw a new channel and use Fib :

today's candle found support at 61.8% and closed at 50% and that 61.8% level is the previous lower high, this seems to suggest Fib is working on this chart, also the new channel seems to be correct so far

The game plan is to trade this channel , put a stop below the channel ... as long as your entry is near the channel base, and have a stop below the channel, you should not stuff up on this one too bad (worst case scenario: gap down on bad news the stop loss will not work to save you, if you hate gap down, try FX instead)

Expand

Didnt wait for the channel break , i bailed out already - this bearish engulfing candle is enough to invalidate the doji and put me off ...

API Price at posting: $1.54 Sentiment: Hold Disclosure: Not Held
Upvote

0 Great analysis

Reply

Top Stories

LPE

Sales growth pushes Lovisa's fortunes (and shares) upwards

Week 47 Wrap: HotCopper users' most watched; Brent lifts on Putin's scary letter; RFK dents CSL

GRL

To make modern missiles, you need 3D Printing. And in that gold rush, Amaero is selling shovels

WC8

Pan Asia rebranding to 'clear confusion' after bagging $35M for Chile projects

HotCopper Highlights: Your most watched stocks for Week 47, 2024

DUI

Panic, paranoia, and gangland politics: HotCopper users react to Dubber's missing $26M

SIG

Dale Gillham's weekly wrap: Sigma-Chemist Warehouse merger creates pharma powerhouse

MIN

MinRes's Ellison knows he screwed up – for that reason, hunt for new Chair to be sped up

BTH

Bigtincan's Board backs Investcorp offer: Why a NASDAQ listing could be game-changing

PYC

Scientific conference spotlights PYC's work on blindness disease treatment

There are more pages in this discussion • 24 more messages in this thread...

First 117 Last

Add API (ASX) to my watchlist