It looks great on the chart at moment for a reversal, not sure how big it will be just yet.
Also don't forget stop losses below support 11.45p (I always do 5% below)
I have topped up on my trade as it is touching the 200ma and sitting on 0.786 fibs - no brainer.
I believe this trade will trigger many filter lists across traders soon.
in FFWD from 16.25p but fully aware on the possability of a touch at 200ma if no news comes before then.
Very bullish on the setup and totally believe that if we do see 15p ever it will be snapped up very quickly.
After the breakout on 2nd Jan FFWD reached a high of 30p
and then proceeded to rewind to 17p
Today's rise of circa 12% sets the breakout off in a
bullish direction.
After 9 tests of resistance, FFWD breaks out.
But the pullback was very strong from the 30p high. Too much speculation at that time, and it's now at 18.8p
Can it get back upto 30p and move beyond?
PS: It pulled back to its 38.2% Fib level
Held the green support line well under selling pressure this morning. Already had huge retrace. Once the final sellers go we should see another big move up.
BIg old retrace and Consolidation into the 100hour moving average. Buyers have been waiting for this & I suspect any pressure here will lead to a bit of a stampede. Happy to take a position at this price and wait for the inevitable to happen.
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FFWD
