A CHARTISTS PRICE GUIDE FOR NON-CHARTISTS.

HTP - 63.50p .. thanks for highlighting this one .. I followed it closely during its 2003 rise, but since then I have forgotten all about it. I see from the 10 yr 'all-data' chart below, that it has spent the last couple of years moving sideways, using the strong support of the 50.00p psychological level .. and after such a period of consolidation, any breakout, could result in some very strong moves, and some very good upside potential.



So lets zoom into its 2 yr chart to view its movement in more detail, to see whether a breakout is a possibility.

If you have been following my posts, you will be aware of my obsession with the 25.00p intervals, and their 'mid price' .. and at the price of HTP, that would relate to the 50.00p level below .. the 75.00p level above .. with 62.50p as the 'mid point' .. and the chart below shows that the price has been more or less ranging between 50.00p - 62.50p throughout .. and I reckon that a breakout of this range, could see the price quickly moving on up to the 75.00p level.



Although the chart shows the price achieving levels above 62.00p during 2004, when viewed in more detail, it shows that much of the movement was just 'intraday', with 'closing' prices below .. and yet the chart below, shows that throughout December, the price has spent most of its time sitting on the 62.00p level, right at breakout point .. so is it going to go for it ?



At the moment, its indicators are falling suggesting the price is in a 'negative period' during which time further retracement is likely, and the price is now just starting to show the first signs of retracement .. The last candlestick is a 'doji' (a cross), which is often a 'reversal signal' .. which could indicate a 'reversal upwards' out of the range .. or a 'reversal downwards' back into its range .. or it could be just a false signal due to the Xmas market .. so not much help in determining its direction, but possibly an advance signal to watch the movement very closely when the market re-opens.

Sorry I have got carried away with my typing .. to summarise, if the 'selling price' can remain above the 60.00p level, then it will be ideally positioned for a breakout, and I reckon 'buys' appearing above 65.00p would be the first breakout signal .. with a 'closing' price above providing confirmation .. overall, it is looking its strongest for the last couple of years .. so thanks again for highlighting it .. and if you are continuing to follow its movement .. please highlight it again on this thread, if the price 'closes' above 65.00p.