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20/03/19
07:51
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Originally posted by Cyclone73
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I wouldn't worry about the indicators too much....
The MACD is based on past events by nature (last weeks consolidation after news peak).
We have since had renewed interest in the business value when the bargains did not materialize due to inherant streangth of the resource and design simplicity.
The RSI and STCOCHI can quite happily bumble along at these levels for a substantial period of time (as seen earlier in the plot) on an upward trend.
All of these indecators are geared towards marking a reversal on a cyclic or ranging stock.
WKT is not range bound....perhaps in a year or two when in production.
There is a massive upside and businesses are not planned or run, guided or controlled in accordance to indecators that may only work because of popular belief. (self forfilling in many cases)
The sky is definitely blue, the sun is warm, the grass is green...consolidation is part of growth.
WKT family,
Mike
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I think you hit the nail on the head, the market was expecting some bargains after the news flow, even I was expecting a historical pullback but it did not eventuate.With the independent research report released yesterday Wkt will see 15 cents today IMO.