It is looking very weak these last few days. It just hasn't taken off yet as we had hoped. I think we could see a spike down to 99 / 98 / 95 maybe. Still bull longer term but the stochastic being as they are I see a shorter term 'lower high' in the making. I suspect MM's are short of shares so they will push down to challenge weak holders. A few painful days...
Great entry here. The share price has been battered due to fear over an accounting error but the fact is they have £14m cash reserves and £89m turnover.
First stop likely is 600 and second stop is 1000. Plenty of cash reserves and profit potential here. The share price was destroyed by fear associated with an accounting error.
Price rose 88.5% in 42 days. It then pulled back allowing the daily 20EMA (not shown -- the chart on view is the 4h) to catch up with the price. Today price broke through the upper trendline of the flag and the daily CCI crossed positive, giving a buy signal.
Suggested stop: 770. Those with less risk tolerance could set their stop to just below the 26.3 fib...
