I'm not 100% sure on this count its just an idea dont take it to seriously and make sure you apply proper risk management
I've dropped some of the moving averages sub divided waves and corrective wave labelling to make it easier to read
Price has closed yesterday above descending wedge and today we are rising in attempt to break the 200ma.
if we close above 200ma then not much resistance as there is no MA's above so it will be easier to move.
BFS is around the corner and could be released any day now so momentum is building.
24p is broker target which is over 100% from here.
Good luck all.
Set up nicely on the 200MA, which is also short term 10p support line. RSI close to oversold and MACD showing positive divergence. 50% down from recent highs, fundamentals remain strong with BFS publication expected 1/2 months.
Strong resistance at 12.30 tracing back all the way to late 2017. We had a breakout of trend 05/11 but it failed at 12.30 and retraced to previous support/resitance area of 10.0 before bouncing off and making moves upwards to re-rest that 12.30 resitance area and falling short again. Price currently bouncing of 10MA
Support - 10.65
Reistance - 12.30
the chart shows that TA works. It is a fact.
If fundamentals are in place then even better. and as you can see good companies have great trends.
retrace at 78.6%
retrace to 50%
retrace to 61.8%
retrace to 78.6%
Nothing goes up in a straight line. retracement brings new traders and investors, builds more interest in the company.
Keep you stop losses regardless...
Quite bullish on the price action based on trend and fibs
I believe 9.55p - 9.8p was the bottom for this move
As long as we hold the trend I belive we will go back to highs in time.
Will slice again when RSI gets overbought and keep my long term pot for bigger gains.
Looking for price to hold at this levels
unfortunately it lost the trend line but not all is lost.
plenty of newsflow to come over summer and always time for swings.
last placing was at 11p for £7.2 Million so I'm sure this level should hold.
17.55p a better target based on distance between both highs. but will check again once we hit 16p which I think we will.
RSI about to break last highs and looking good at moment.
CCI down trend broken and on a bull run.
One of my long term favourites since 2.20p
Ben trading in and out but more recently came back in as long term as well as a trading pot.
Target 16.15 & 17.60p - Believe we will get closer to the latter based on distance between the last two highs
2nd phase of consolidation, expecting breakout to be triggered by heavy news flow from further drilling data and feasibility study related data (FS expected early 2018). Soon to enter development phase and popular copper related stock. Stock tightly held and moves quickly on light volume.
Up and down like clockwork for 6 months now. Lots of triggers due short term. Perfectionists may want to wait a tick or two for the optimum entry point, but looking for an initial rise back to resistance at 3p. High quality, long term hold. LSE:ARS