Wyckoff trading method, page-1225

  1. 914 Posts.
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    Hi Jako, sweet thread mate. Short time reader, first time poster!
    I have been holding my biggest position in CKF for over 18 months now and watching the various shenanigans that get played with the SP for what is essentially a pretty steady and growing business (as the long term trend indicates).

    I've previously been investing purely on a fundamental basis, still learning and feeling my way as to whether I'm a long term holder or swing trader, I don't have the technical skills to day trade nor always the time.
    Today CKF had their half year results and announced a 33% increase in interim div, so its been doing alright fundamentals wise as the chart below indicates.

    Just from observation, I think I can identify three solid periods of accumulation (green lines highlight where I observed accumulation just by watching course of sales). I was just wondering if your Wyckoff chart methodology supports/disproves my accumulation theory at those points?

    Finally the red line indicates a gap that I assume will be filled shortly, as looking at CKF charts over different time frames, the gap always seems to get filled.

    If I had to guess what may happen over the next month, I think the gap will get filled, and possibly the previous resistance around $5.20-$5.30 will become the new support?

    I free carry now so not bothered if you say it will crash. Happy if it goes higher too of course.

    Screen Shot 2016-11-30 at 8.41.43 PM.png


    Cheers,
    Pat
 
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