SLE

Currently broke through Lets see if it can finish above the trend line
So looking bullish currently...
im long on this and my stops are below the 2 point at 5.8. That far away in percentage terms.So a tad risky .
This already hit the first resistance at 7.77 and reversed but if it can finish above the trend line then first real target will be 8.7.


support...7,,5.8,,4.61
resistance...7.77,,8.7,,9.45,,9.69,,12,,13.18

Has SLE re-tested break out point? Is this still looking bullish?

Syrian Empire wrote: Has SLE re-tested break out point? Is this still looking bullish?

This is testing the trend line currently.
Its bullish as long as the price dont finish below 6.5
also bear in mind its a penny share and there technicals aint as reliable as a liquid stock.

I think this really needed to stay above the mini wave 1 high of 6.99p to stay bullish and avoid a wave 4/1 crossover. Friday's candle was pretty bearish with a marubozu and the RSI closed back below its downtrend so that looks like a false breakout too.

dl.dropboxusercontent.com/u/20815047/SLEdaily13_05_13.gif

This is now on it's 3rd inside day in what looks to be a little ascending triangle. The 6.99p level was only breached by 0.04p so we'll overlook that overlap I think! Still needs to close above 7.76p for higher prices and a stab at 8.7p:



dl.dropboxusercontent.com/u/20815047/SLEdaily15_05_13.gif

chart looks good ... the initial inside bar low must hold.... if it can then looks to be consolidating before the next leg up imo....