So i have been a bit lazy last week or so not much trading just watching you know thought i would take it easy for the end of the year and start fresh with 2010!!
I have sent off for my Shree IPO, i got sent an update from Colin Vost at Zurich in regards to why he likes the IPO and i will post this on my blog soon :)
Anyway here is a chart on SDL, i bought them a while ago and they have not been doing much, they have recently had a capital raising at 15c and have been sitting just below this area, i really should have bought at 14c but i was a bit slack haha stupid, but anyway now that the chart is giving me a much more clear bullish indication and with the games that have been going on with some big boys accumulating shares i think she is about ready to run, Drilling results will be coming out early this year (2010) with some more updates, they are in the process of gettin a finance partner and have got an interesting year ahead of them. I dont normally do to much research i trust the charts a bit more but i have done so on SDL as i have bought them before and went to the AGM. Still a Speccy but with a stop loss at 13c and the potential for short term to go to about 18.5c or 19c, and long term if they are able to secure finance partners and begin to prove up even more of a resource as is expected i dont see what would stop this stock going to $1 or even higher once in production which is about 3 years away but hey, 15c now to $2 or something crazy maybe even FMG crazy hehe is one heck of a lot of money and i am almost tempted to just hold it for the long term haha, gotta tell the trader inside of me to settle down haha.
Anyway this chart shows that it has broken out of a descending trangle pattern to the up side, it is broken through the 41EMA which is also bullish and the other EMA's are crossing upwards with the indicators turning up on the daily and the weekly. Based on past price movements i see 18.5/19c as a near term target.
Enjoy your 2010 :)
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