Fukurokuju79

ARCM - Long with next target 4.05 if breaks 3.60(ish) resistance

Long
Fukurokuju79 Updated   
LSE:ARCM   ARC MINERALS LTD ORD NPV(DI)
Identified Key Support area of 2.50 - bounced off this on 25th Jan.
Watched and moved above the 50 day moving average with strength on 30th Jan for a good entry (sub 3.00), first resistance zone at around 3.60.
Currently battling the 3.60 zone but if confirmation of breakthrough next resistance zone and target looks like 4.05


Trade active:
Stop: Set at 2.45 just below previous bottom.
Target: Hold until price crosses back through 50 day MA.
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