Jump to content

Kenmare Resources


Recommended Posts

Forgetting about indicators which just take away from the chart, H1 shipments for KMR are reported to be off due to weather, not production or demand.  That could impact negatively on H1 financials due in August.  So, fundamentals support a minor pull back but the next time it approaches overhead resistance, likely to melt like butter.

Link to comment

Not really.

RSI and SS/FS indicators are lagging.  They tell what occurred in the past but do not predict what will happen in the future.

For example, if RSI is strong in an uptrend it doesn't suggest that the uptrend will peter out, nor continue.  Nevertheless, all uptrends peter out, and the RSI will retreat.  That doesn't make an RSI predictive.  I've never once on an forum seen someone present statistically significant evidence of a back test proving RSI (or SS/FS) is predictive.  I'm pretty sure if someone did the analysis computationally it would result in a ~ 50/50 result.

Consolidation doesn't suggest a pullback.  Neither does the fact that a historical support or resistance line rests at a point above or below the current SP, mean the price will gravitate towards it.  Patterns are all in the eye of the beholder.  The one thing on the chart that doesn't tell lies is the price, and the volume if you have real volume on the chart.

What an S/R line may betray is the price at which people may be willing to buy and sell.  That is not set in stone because it is impacted by fundamentals.  Fundamentals can be improving or deteriorating so the the prices at which people are willing to deal will alter accordingly.

You also need to consider that for a company like KMR the spread can be up to 10p at times.  There's only a whim between 215/220 and 209/214.

Edited by StormChaser
Link to comment

Create an account or sign in to comment

You need to be a member in order to leave a comment

Create an account

Sign up for a new account in our community. It's easy!

Register a new account

Sign in

Already have an account? Sign in here.

Sign In Now
  • General Statistics

    • Total Topics
      21,632
    • Total Posts
      91,901
    • Total Members
      41,916
    • Most Online
      7,522
      10/06/21 10:53

    Newest Member
    TraderDanielDK
    Joined 25/03/23 21:50
  • Posts

    • Charting the Markets: 24 March The FTSE 100, DAX 40 and Nasdaq 100 slide on renewed banking woes while EUR/USD, EUR/GBP and GBP/USD drop as the US dollar, gold appreciate due to flight-to-quality flows. Crude oil and copper tumble on recession fears.  Axel Rudolph FSTA | Senior Financial Analyst, London | Publication date: Friday 24 March 2023         This is here for you to catch up but if you have any ideas on markets or events you want us to relay to the TV team we’re more than happy to.  
    • Market Breakdown | WTI Oil, EURUSD, GBPNZD, EURAUDHere are the updates & outlook for multiple instruments in my watchlist.1️⃣ WTI Oil daily time frame️The market is trading in a long term bearish trend .After the last sharp bearish movement, the market is steadily recovering.Ahead, I see a major horizontal supply area.Probabilities are high, that the next bearish wave will initiate from there.2️⃣ EURUSD daily time frameAfter a breakout of a solid daily resistance, the market is preparing for its retest.Watch carefully the underlined zone and look for buying opportunities from there.3️⃣ EURAUD weekly time frameThe pair is currently approaching a weekly horizontal resistance cluster.Taking into consideration, that the pair is quite overbought, probabilities will be high to see a pullback from that4️⃣ GBPNZD daily time frameThe pair is currently retesting a broken neckline of an ascending triangle . As we discussed earlier, the trend line of a triangle and its neckline compose a contracting buy zone now.Chances will be high that the next bullish wave will initiate quite soon.For Additional confirmation use: Divergence Indicators
    • #CHFJPY: Classic Bearish Setup 🇨🇭🇯🇵   🔻CHFJPY has nicely respected a confluence zone based on a horizontal 4H resistance and a 0.5 retracement of the last bearish impulse.   The price formed a double top pattern on that and broke its neckline.   Probabilities will be high that the pair will drop lower soon. Goals: 141.172 / 140.363  
×
×
  • Create New...