AXM 0.00% 1.1¢ apex minerals nl

Ann: Increase in Gold Resources at Wiluna , page-44

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  1. 23,253 Posts.
    lightbulb Created with Sketch. 2416
    Well each to there own I guess... never heard of a double top referred to in such short timeframes on an ordinary stock on the ASX (and providing any meaningful entry /target but hey just my opinion) ...Could understand if trading ultra volatile markets ie, ForEx or Spi or SP500 Mini's etc ....

    My opinion is that if it drops down to 24c it will be because this is the 50% retracement level (See Fibs) of the last leg up and therefore a natural reversal point. So we will agree to differ I guess. Semantics really, .. the only real diff is if it goes below 2.6 to 2.4c You will buy (I presume) and I will add to position...If it goes above 3c then I guess you will miss any profit to be had... If it goes below 2.4c I will auto stop out.

    So ..I'll stick with my line for the time being ...thats is we are half way through a larger move which is a flag formation with a flagpole with a flag at the top and when/if it breaks higher it should go the length of the flag pole again as a possible price target.

    Heres a link explaining the bull flag if your not familiar with it and one with a double top:

    http://stocks.investopedia.com/stock-analysis/cotd/ANSW20090105.aspx

    http://www.investopedia.com/terms/d/doubletop.asp

    Make up you own mind folks...

    Best of Luck all ...
 
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