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Oakwell (on request)

Punting penny counters (you will notice I do not use the word “trading”) has its risk and currently it is penny counters season, but if one is trading penny counters, do remember it has its risk and you have to accept the risk of anything that can happen will happen. If counters like China Minzhong can suddenly lose close 50% in a day, what more about penny counters?
There is a limit on how much “confidence” that can be applied to penny counters but technically Oakwell has a ascending triangle with resistance at 0.085. If it can break 0.085, then Oakwell has a chance to go higher. But if it goes below 0.076, then it may test the next support at 0.067. As of right now, it is still “waiting” for signs to go higher or lower. Therefore if you have long position in Oakwell, you will have to watch the levels very carefully.
 photo Oakwell_zps42b13532.png




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