This might be a fun trade to try, risk to reward is huge so lets see.
Current price action suggests some accumulation happening, people look interested at this price.
So lets pretend it's a bottom and create a risk managed trade opportunity at 32 cents with high probability, high reward.
"Volume Weighted Average Price (VWAP) is the ratio of the value traded to total volume traded over a particular time horizon. It is a measure of the average price at which a stock is traded over the trading horizon." Wikipedia. (Blue Lines).
I use a rule of thumb, never buy/long above vwap and never sell/short bellow vwap. Technically we are below the higher...
I made an Omnia chart a while back (600%), the shares rights offer messed up the chart. The levels are still there though so I've redone the chart. Again, we could try pick some up a little lower here before continuing.
This sounds and looks crazy? Let's find out! Time will show us. (This may take a while)...
420 was resistance about 12 years ago. That's over 4200 daily candles ago. JK.
But we can try trade this. If we are able to pick some up a bit lower and 420 still holds we should be good to test the level it broke down from. There are many levels in-between, but I think the 800 area is destination.
It takes a while to identify which levels are important, I am...
Price is below the yearly Pivot Point and the yearly VWAP "gap" (volume weighted average price), its the thickest blue line, the other blue lines are lower time frames which also play a role in their own.
I prefer this type of setup to trade, being below average price and after hitting a bigger support which held (green dotted line) we look for signs of reversal,...
Is STEINHOFF trying to recover? Is this the best price we will see in a long time?
Testing some price action ideas. Testing.
Wait for the new monthly pivot, watch what price does on lower time frames, be cautious.
Price can do anything.
Beware the anchor.
EOH tested a major level from 2007 at R10 and held. We could find an entry on the next test around R14 level, trading a higher low setup. This could potentially turn into a long term hold past current levels to test. Just have to watch the price at those levels and decide when we get there.
Not financial advice, manage risk! Take care.