Following up from previous call, Charisma Energy has finally broke below the 0.024 support over the past few days and still trading below the 0.024 – 0.025 new resistance level. As long as it does not cross back above 0.025, still a negative in the short to mid term to target at 0.020 then 0.016. All 3 moving averages sloping downwards at the moment with no reversal insight with a clear downtrend seen below the channel support leve. CFD SELL to ride the downside.
Sent: Monday, December 08, 2014 5:26 PM
Subject: ********************* Charisma Energy - back to downwards consolidation towards 0.024 support, price 0.025
Subject: ********************* Charisma Energy - back to downwards consolidation towards 0.024 support, price 0.025
From previous trading call, Charisma has broken the 0.030 support level and now almost back to the 0.024 support which was holding in Oct before rebounding temporarily. Note that downtrend still intact as long as 0.030 remains as the resistance now. A break below 0.024 will be a new recent low which can pave the way to more weakness to 0.020 then 0.014 first. Cautious long positions, CFD SELL on any support breakdown to ride further while lowering buys stop loss. 20 DAY MA line has also just reversed downwards again after a slight rebound with Stochastic and RSI following suit. Careful downside.
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