Posts Tagged ‘Japanese Candlestick Charting’

Day 48 – Portfolio Value £7,507 Down £124 On The Day

On a day when the FTSE finished sharply down, our portfolio provided a mixed bag.

We saw modest gains in Lloyds Bank (up 2.3%) and Ceramic Fuels Cells (up 3.0%) but these were more than offset by the continued retracement of ReneSola (down 5.8%) and the yo-yo-ing, Climate Exchange (down 4.9%).

After last weeks highs of 240 pence, ReneSola has come back to earth a little – closing today at £1.8675 – so I feel justified in taking profit north of two quid a couple of times last week. I think it has a little more left in this retracement before we see support, possibly around the 140-150 pence mark – a zone of recent resistance.

Stop the press! Just checked Renesola (SOL) on the New York Stock Exchange and it’s had a strange old day climbing 35 cents from $6.25 to $6.60 in the last half an hour of trading – possibly on the back of a buy rating from Lazard’s up from $4.00 to $7.00.

After that, you’d think ReneSola would open up in the UK tomorrow, and in a perfect world it just might, but I wouldn’t be at all suprised if we saw a fourth continous day of retracement. Nothing’s a given with ReneSola.

Taking a closer look at some ReneSola candlesticks from the past month, our chartists out there could point you to the beautiful morning star of the 10th June before uttering an all-knowing, “I told you so”.

If only I had as much confidence in my ability to plot the future using charts as I do to show the past – oh well!

Drop back tomorrow and I’ll reveal Investor Trader’s latest value-packed purchase.

Thanks again for dropping by.

Free Trading Videos

For those of you out there with a basic understanding of Japanese Candlestick charting who’d like to take the next leap in your development, may I suggest you check out FreeTradingVideos.com.

FreeTradingVideos.com was launched a couple of years back by a bunch of renowned traders who really know their stuff.

Having been in this industry for several years, we feel that there is an alarming lack of trader education that teaches stock and option trading basics in a clear-cut way. For beginners, it can be difficult to put the “pieces” of trading together into a sound, workable plan. Well, it’s time to level the playing field. No matter what your experience, our free online trading videos teach you strategies you can easily apply in real life.

I’ve read a few books on the topic over the years, but there’s no comparison to being walked through real market data by an expert who’s pointing out patterns, indicators and levels of support and resistance as they go.

You’ll probably want to have a basic understanding of charting before you head on over, or a lot of what’s being said may sail over your head, but these guys are articulate, knowledgeable and obviously passsionate about what they do.

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Disclaimer: Investor Trader is the blog of a single, personal investor. The owner of this blog is not a citizen of the United Kingdom nor is he based in the United Kingdom and the blog is not hosted in the United Kingdom. The owner has never received any form of compensation for providing investment recommendations and has never in the past been employed in any capacity where he has provided investment recommendations. Investor Trader does not make investment recommendations and no information displayed on its pages should be considered as investment advice. Nothing on Investor Trader should be interpreted as a recommendation or solicitation to buy or sell any securities or investments. All trades are first reported on Investor Trader at least a day or two after the fact (but more often a week or two), never live. Investor Trader is here to journal my attempts to make a few quid from the markets and possibly to entertain you a little into the bargain. Please, please, please, do your own piles of research and if you want good investment advice go out and find someone who does this sort of thing for a living (i.e. not me). Most of my investment decisions are based on gut feelings, hearsay, unfounded rumour and whether or not I like the cut of a company logo. You've been warned!
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