Even the 0.100 broke down fiercely on top volume….
Sent: Friday, January 15, 2016 10:57 AM
Subject: ************Spackman: Cautious long positions, breakdown below 0.130 A negative... price 0.126
Subject: ************Spackman: Cautious long positions, breakdown below 0.130 A negative... price 0.126
Spackman has broken below the 2 months consolidation support at 0.130 yesterday. Staying below now can see more weakness as it starts to begin its descent from the rally seen in Oct and Nov last year. 20 day MA line has started to trend lower with it pulling away further. As long as 0.130 is a resistance now, we can still expect more selling pressure with target to 0.110 then 0.100 possible. So please be cautious on any long positions. Unfortunately, no CFD shorting allowed for this counter for now where we have quite a good bearish setup. Cautious long position, have a plan and stop loss if you are still holding this…. Seriously…. Indicators all reversing lower with MACD finally crossing below the zero mark.
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