Urals Energy Share Discussion Threads

[jonnyfro] 27/5/2009 18:24

LMDP great explanation to accompany a great chart ;-)

[19th hole] 27/5/2009 18:17

LMDP - thanks for the insight....now let's just see it play out ;)

[comedy] 27/5/2009 17:50

Well all were sitting on their hands at 8p last week. Now we are in the phase of "is it a trading up and down" and i'l get back in at 8p and as we proceed tomorrow and if pattern repeats we will then have the "shall I get on now before i miss the boat?" and if it continues on friday then will get the i'm getting on now with the "i know i promised never to top up when it was increasing but i could make up all my losses elsewhere brigade" and hey presto we will have another herd rush....let's see if my future glasses are working. :)

[dadragon] 27/5/2009 17:45

Ah true - my mistake.

[le mass du pap] 27/5/2009 17:41

Dadragon, you added it to the current share price in your post above. Anyway, let's get past 16p first ;-)

[dadragon] 27/5/2009 17:39

LMDP I thought thats what I said lol.. and I agree they always overshoot!
Its just good to know even with no news we can always fall back on the tea leaf reading.

[le mass du pap] 27/5/2009 17:35

Dadragon, the target is the depth of the cup added to the top of the rim.

"The technical target for a cup with handle pattern is derived by adding the height of the "cup" portion of the pattern to the eventual breakout from the "handle" portion of the pattern."

They always overshoot on momentum and with stocks like this, which is why I reckon 25-30p will be the target. We may have news by then though. Aimho, etc....

[le mass du pap] 27/5/2009 17:32

19th Hole. Technically that is true. However it's the reason for the handle that is all that matters in this case......

"As the stock comes up to test the old highs, the stock will incur selling pressure by the people who bought at or near the old high. This selling pressure will make the stock price drift in a sideways fashion with a bias to the downside for about 4 days to 3 weeks."

Hence the seller. The old highs were the spikes of December 2008. It was people who bought here and have been waiting 6 months to recoup who have sold and pushed it down to form the handle. But because the bias on sentiment is towards the upside(due to potential good news), the buying pressure that comes in on this dip eventually forces it back up above the 'rim' and you get a breakout. Whether there was a sustained up trend before is largely irrelevant because this is also a 'continuation' of the recent uptrend that took it to the top of the right-hand side rim of the cup initially before the handle. It's just the selling from those who bought on the previous highs who cause the handle, whether those highs were at the end of a long uptrend or just a spike doesn't matter, as is the case here. Clearly the sentiment here is good and the landscape has changed massively, so this should push it back up above the 'rim' and onwards to around 25-30p, all being well. Aimho, etc....

[dadragon] 27/5/2009 17:32

The target for a cup and handle formation is the bottom of the bowl to the right hand peak. So in our case from 2.5p to 15p, giving a target of (12.5 + current share price 10.5) 23p

[laserdisc] 27/5/2009 17:13

the cup could be a china one

[19th hole] 27/5/2009 17:12

Jonny,

I thought I once heard that a cup and handle formation is a continuation pattern...ie one with a previous trend.

Not sure that this qualifies as no prior trend.

But I am very happy to be corrected

[ucasavi] 27/5/2009 17:06

Hopefully the cup does originate from Moscow mugs;)

[jcgswims] 27/5/2009 16:56

Thanks LMDP/JF - looking good!! :)

[rattlesnake28] 27/5/2009 16:47

Nice chart JF, looks like a breakout is 'imminent'!

[jonnyfro] 27/5/2009 16:39

LMDP, just trying to chart it now - gimme 10 mins ;-)

[le mass du pap] 27/5/2009 16:38

Could be right about the cup and handle Jonnyfro ;-)

[carlito sway] 27/5/2009 16:33

100k buy at 11.25p!

[jcgswims] 27/5/2009 16:32

Is that for mrs JF ;)

[jonnyfro] 27/5/2009 16:32

as is the 100k that followed it :-)

[canny lass] 27/5/2009 16:32

I'm happy with the share price gain today.

Hoping this trend continues tomorrow.

[jcgswims] 27/5/2009 16:32

Final pic of how level 2 ended :)

[jonnyfro] 27/5/2009 16:32

And the 54k at 11p is DEFINITELY a buy ;-)

[rattlesnake28] 27/5/2009 16:29

Cheers jcg and CS