ROB 0.00% 0.4¢ robe australia limited

weekly chart looks fantastic, page-2

  1. 320 Posts.
    You can say that again - The weekly chart is certainly looking very good.

    Loving the potential for a big move here as the share price gets increasingly closer to taking out resistance at 2.1 cents.

    The Weekly chart clearly shows that the stock has been building a very nice basing pattern for about 3 years.
    In the process it has built a very nice launching pad for a strong break out and run to higher levels.

    Nice early signs of the pending breakout here as the diagonal down trending resistance line was broken last week.
    Now this Trend line has been acting as resistance since march 09 with the share price failing to break and close above the line on 5 separate occasions.

    Although its nice to have taken out the diagonal resistance, Taking out the horizontal resistance at 2.1 cents will be the catalyst for a nice technical move.

    I have 3.4 cents as my initial short term target - Followed by target 2 to fill the gap at 5.5 cents.

    Taking into account the low market cap and share structure, i would be surprised if the targets were not hit in the not too distant future.

    The stock has built a 3 year technical launching pad, management now are in the process of acquiring some projects that will be able to propel the share price to higher levels.
    A lot of news flow expected from now to mid January...Just take a look at the gains of other Mongolian stories such as VOR,CEO and NRL to see what is possible once the pump begins.

    Coming together nicely as technicals and fundamentals look like they are now converging to take advantage of a very good looking long term basing pattern.

    Got some heads and options, ROBO have a long expiry of Dec 2014 nice way to get some leverage.

    Looking good - Certainly one to keep an eye on!






 
watchlist Created with Sketch. Add ROB (ASX) to my watchlist

Currently unlisted public company.

arrow-down-2 Created with Sketch. arrow-down-2 Created with Sketch.