ShareProphets


The one stop source for breaking news, expert analysis, and podcasts on fast-moving AIM and LSE listed shares


Join ShareProphets at less than 2p per article

> All the big AIM fraud exposés

> 300 articles and podcasts a month

> Hot share tips

> Original investigations by our experienced team

> No ads, no click-bait, no auto-play videos

Find out more

Zak Mir's Bear Call Of The Day: Carclo: Return To 120p While Below 50 Day Line

By Zak Mir | Saturday 18 July 2015


Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from ShareProphets). I have no business relationship with any company whose stock is mentioned in this article.


Carclo (CAR): Return To 120p While Below 50 Day Line

Zak has just published a new e-book "the ten stocks to buy for summer 2015" - to order your free copy fill in the form HERE



It may be difficult to define exactly what an unusual looking chart is, given that they are al as unique as fingerprints, but what we are currently being served up on the daily timeframe at Carclo does appear to be somewhat out of the ordinary. This is said in the aftermath of the post May peak for the shares just shy of 170p, before the present retracement kicked in.

In fact the way we may be looking at a bear situation over the next couple of months is somewhat surprising given how the start of the rally here in February came via one of the best combinations of technical and chart pattern signals. Indeed, the unfilled hap through the 200 day moving average in February was followed by a golden cross buy signal for March, one which worked very effectively.

From that time on until the end of last month support for the shares came in at or just below the 50 day moving average at 150p currently. But it has been loss of this feature which has warned of at least an intermediate bear phase on the horizon. What can be said now is that while there is no end of day close back above the 50 day line one would be looking for a retreat to the area of the 200 day moving average / December price channel floor at 120p over the course of the rest of this summer.


Filed under:


Never miss a story.




This area of the ShareProphets.com site is for independent financial commentary. These blogs are provided by independent authors via a common carrier platform and do not represent the opinions of ShareProphets.com. ShareProphets.com does not monitor, approve, endorse or exert editorial control over these articles and does not therefore accept responsibility for or make any warranties in connection with or recommend that you or any third party rely on such information. The information available at ShareProphets.com is for your general information and use and is not intended to address your particular requirements. In particular, the information does not constitute any form of advice or recommendation by ShareProphets.com and is not intended to be relied upon by users in making (or refraining from making) any investment decisions.


More on CAR


Comments


Enter your comment below. Fields marked * are required. You must preview your comment first before finally posting.


Site by Everywhen