William%: Oversold
OBV: increasing
MCAD seems going up
Fibo Retracement: 0.60 support
EMA(200) found at 0.62
It seems like the downtrend is quite oversold. Based on TA, A good buy will be at 0.62, a better buy at 0.60.
However, based on my previous post, fundamentally I will not buy at 0.60.
(Disclaimer: The above is based on my personal opinion to record my thoughts and thinkings.)
3 comments:
Hi OT,
Wah, so many indicators...
Breadtalk has low liquidity, so TA might not be too accurate for such stocks. Anyway, I see a bearish wedge forming, with neckline at 0.62. If 62 breaks, we'll be seeing quite a sell off. I don't like to buy in such situation.
I don't see anything good about this, from TA perspective. Perhaps you should just concentrate on the fundamentals for such poorly traded stock. As mentioned, TA isn't that good for such stocks :)
Hi LP,
Thanks for advice.
Now I know TA not for low liquid stock.
I think i focus more on fundamental.
Hi OT,
TA is ultimately about crowd psychology. It's more predictive if there's a lot more people, otherwise it can easily be manipulated by a sudden buy up or selldown. Basically if you see a lot of - in the chart with negligble or zero volume, there's no point opening the charts.
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