Monday, December 4, 2017

Rowsley - The Next Turning Point

Rowsley, a stock which showed some fireworks last Friday and ran till 0.123 and then started to simmer off again. Just when the chart is beautifully setup and when I though it was nice to have a small run, it gave an otherwise results which is dampening. However, luckily for me, I am not a breakout chaser and hence did not traded this counter.

The chart definitely has some nice setups but the problem is when the overall market conditions is very bad and uncertain, it's wise to stay out no matter how beautiful the picture is. Rowsley is in my watch list but the turning point for more sustainable breakout is important. One breakout doesn't mean the Big Boys are in. It's the ever evolving planning stage which is more important to the sustainable movements. See the price after 10 minutes later. From 0.122 to now 0.119. There are definitely some selling going on. It' wise to stay prudent.

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