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corvidaecapital

JSE:BLU - Daily Hammer

Long
BLUE LABEL TELECOMS LTD (JSE:BLU)  
corvidaecapital Updated   
JSE:BLU   BLUE LABEL TELECOMS LTD
Trend Analysis
6
0
trendanalysis
!!Counter Trend
  • Hammer on the recent 520 pullback
  • Limit ~465
Trade active:
Rejected off 430 support.
Breaking 430 will trigger an exit as the next level of support is below soft stop at 390
Comment:
Today the price broke the 430 support but by the close of tradee the price had re-traced and ended in another hammer.

This is a great example of resisting taking actions intra-day. Wait for the candle to complete it's daily move.

Support is back at 450.
Trade closed: stop reached:
Trade fell apart.
Gamblers call to hold at this point.
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