If you've been following our FREE fortnightly newsletter (go here for archived newsletters) you will know that we were looking for a bounce in the AGO share price based on the practical application of our RCR technique (to learn more about this technique, buy our Ebook here). We also said that the RCR gave us a stop-loss level of 86.5 cents. Any close below that meant it was time to abandon AGO. That time has come.
Those who have already bought our Ebook can use the ASX ticker code AGO as a relevant example for this technique as outlined in this book. This blog will continue to discuss trading examples that utilise the proven application of indicators shown in the book.
Let's turn to the ticker CCL listed on the ASX. It will seem inconceivable to some readers that this blue chip stock could fall back to $11, but this is exactly what the chart is telling us.
Application of standard technical analysis of the inverted or upside flag pattern which is forming in the CCL chart, suggests that the stock will look for a short term bottom at $11.
Those who have already bought our Ebook can use the ASX ticker code AGO as a relevant example for this technique as outlined in this book. This blog will continue to discuss trading examples that utilise the proven application of indicators shown in the book.
Let's turn to the ticker CCL listed on the ASX. It will seem inconceivable to some readers that this blue chip stock could fall back to $11, but this is exactly what the chart is telling us.
Application of standard technical analysis of the inverted or upside flag pattern which is forming in the CCL chart, suggests that the stock will look for a short term bottom at $11.
Watch out below. If the stock breaks above $13.50 however, this analysis becomes null and void.
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