MOY 0.00% 5.1¢ millennium minerals limited

Hi @ wilfran1pm (et other TA's) ... Some nice charts and TA...

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    Hi @ wilfran1pm (et other TA's) ... Some nice charts and TA being presented here. FYI, I for one don't really normally look at a SSTO(slow stochastic) especially for "penny" stocks and certainly not for Daily timeframes or less using the 'standard' settings. I do however look at a Weekly timeframe but using an even slow setting(15,4,4). That's just me!

    Regardless, as has been pointed out by some nice TA work here, MOY's chart is starting to look real good. Apart from breaking out of a nice corrective 16 mth wedgy and a H'nS bottoming pattern(formed over last 8mths and recently back-tested) I like that we have cleared all but one overhead downtrend line ... that's the one down from the 78c high ... plus all Daily and Weekly MA's have a +ve crossover, rising and the SP action is above them.

    If you look at the Weekly Chart below it shows the breakouts of those mentioned patterns, SP action is now well above the 65ma and PAR, and the good Gann retracement levels that provided support(66.7% of the 2.2c to 41.5c range coinciding with the 16.7% of the 78c to 2.2c range)and now heading for 2 x 33.3% levels of both ranges and breakout(?) of that downtrend line(~ 27.5c). @wilfran1pm , I have also shown on this chart how I would use the wkly SSTO arrowing the 'buy'/'sell' signals on breaks of TL's if in between the outer % retracement ranges.

    MOY_Fibs_260218_Wkly.png

    It is more normal(comfortable) for me to use 'price ranges'(mostly out of a swing low/high), with the correct set-up, to form a possible "road-map"(hate that word "target") for upcoming SP action. So, I have shown below(on a Daily) my current "road_map" chart for MOY ... just based on our more recent low @ 14c. WARNING ... Its only a possibility at this stage as neither 161.8% extns have been exceeded. However, assuming the (near) norm, MOY should get to 35c from here(once we clear that ~ 27c/27.5c barrier shown on both charts). Of course, this is just my observation and not advise ... DYOR and use stops!

    MOY_Fibs_260218_Dly.png
 
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