Thursday, September 5, 2013

******* Consolidating now: Rowsley. Share price 0.58. (Waiting for the next up move..... Let's see if the 0.600 clears soon)

Following up from previous BUY call made on Tuesday 3 September 2013. Rowsley will most likely consolidate from 0.54 to 0.59 region before attempting another breakout above 0.600. High this week was 0.600 which it tested on Tuesday also but failed to break above. Possible to accumulate on dips as long as it stays above the support at 0.54 to 0.55. Trade this range and hold some long positions to prepare for a break above 0.600. As long as 0.54 is a support, a rise towards 0.600 and even 0.64 seems likely, a break below 0.54 would open the way 0.500 psychological support. Can consider averaging up on the break of 0.600 and take profit from 0.64 to 0.65 with a higher stop loss at 0.59.
Stop loss at 0.53 for long positions now.

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