Rank: Veteran Joined: 3/26/2012 Posts: 985 Location: Dar es salaam,Tanzania
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karasinga wrote:hisah wrote:karasinga wrote:karasinga wrote:karasinga wrote:karasinga wrote:Angelica _ann wrote:@Hisah & # now that Safcom has breached 17bob downwards, any comment on direction it will take? Disclaimer, this is by pet stock. hello angelica-ann. I know Hisah will give a better answer but if I may comment. As stated here (Check the chart) SCOM is now bearish. why? closed yesterday <17.1 and most likely it might close the same today(3rd march). Is there a need to panic if in ?I don't think so. let me explain. back to basics.... Elliott wave. check my chart  best wishes In the event SCOM rallies anytime from today (6th March), consider 18.5 and or 19.15 as graceful exit. Just my opinion having said SCOM IS NOW BEARISH,it should not be construed to mean there will be no retracements. Currently, RSI is extremely oversold and we might have a correction. I am not happy with how angry bears look so will treat the coming wave north as a temporary profit taking...and shuffling continues shortly afterwards unless scom achieves a close above 18.9.  just my opinion. best wishes watching... just a few cents After testing 15.90 the bulls have come back with vigor and pushed the price back above the tough resistance level at 18.50. If this counter closes the month by regaining the 19 handle , bulls will be ready to challenge the all time highs! The monthly chart is already spotting a fat hammer candle pattern aka bullish pin bar. reading from the same script, mate...This also validates that owning a process that has positive expectancy will not only make you a better trader but also it will make your account grow. and that is the best part. Let those who "believe" market is random and liken it to gambling watch and learn. best wishes  Trendline set
“The pessimist complains about the wind; the optimist expects it to change; the realist adjusts the sails.”
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