Antofagasta

Hi,

Anyone able to give me the support/resistance for this one?

Also what do you guys think of mining stocks? are they really finished?

Was thinking of taking a risky punt on this one.

supports.
400, 372, 359, 340
resistance
423, 444, 447, 459, 484, 508, 517

This is bearish imho.

daily shows long term bearish stock, with 3 significant failures when it tried to change trends.
uk.advfn.com/p.php?pid=chartscreenshotsh...SbLIFq70FbKyJgwSw%3D

the 200 day ema, and the top of the triangle/resistance t/line
the 20 and 50 day ema
the support t/line (also the bottom of the triangle).
the rsi is not well placed and is calling for further down moves.
weekly.
uk.advfn.com/p.php?pid=chartscreenshotsh...OXRcQWKoKIsR7uoXU%3D

the weekly shows this may have been a bear flag breakdown, so triangle on the daily, bear flag on the weekly take your pick.....

this should by all intent and purposes continue to spiral down. Look for a 1,2,3 low or for a weekly close above the 20 day ema, as the first signs of a possible recovery....

Some miners are bullish, take a look at some of the gold mining stocks, look to buy the dips.
I'm currently and buying the dips on CEY, ACA, HGM and RRS.
FRES also looks ok.
As gold is bullish they all look good for further rises.

Remeber buy the dips, at support levels, never buy on spikes ot at resistance....
As always imho, wdik and dyor,
Trendfriend

thank-you so much trendfriend

Great info and advice, thats such a big help. you seem like a very accomplished trader

As you can probably tell I'm quite new to trading so still learning lol

I will definitely have a look at the miners you mentioned.

Thanks again.

"very accomplished trader".
That's not me for sure, i'm still learning something everyday.

Stick around, post any trade ideas here, for some views, and heads up to the other folks.....

One point i will make is, if you cannot explain to others, why you think a particular trade is good, it may well be it's not such a good trade after all....

imho, dyor, good luck and all the best.

Trendfriend.

Possible short on this one based on bollinger bands.
Stops above the recent high at 576.
This popped up on one of my scans using metastock pro


dl.dropboxusercontent.com/u/4899609/2016-08-22.png

This one should be a free trade now,,,also now currently at bottom of bollinger bands so profit should be taken.