Long Tungsten Corp (12/03/2015)

UPDATE (21/03/2015):

• I decided that my trade was still valid as long as a fall below the gap level at 160 (09/03/2015) didn't occur. 
• Thankfully, combined with this the support at 160p, we saw a comfortable bounce off of these levels and back to 186p - currently making me a 12p per share profit.
• There's now very little resistance at the 190p level and although there does sit some at the 200p level, the more significant resistance comes in at around the 210p level.
• With Numeric having closed a large proportion of their short position (1.31% to 0.14%), this is another reason to remain bullish on Tungsten Corp.

• Intra-daily, the movement of the 3 day moving average through the 13 day moving average has provided a long trade for me, which I would look to exit from either intra-daily around the 180 level or at around the 190 mark if I decide to take over night exposure.
• The test and hold of the 170p support line this morning is another reason to turn bullish.
• Resistance levels sit at the 190p level and I will be reconsidering the trade and may exit the trade on a drop to the 170p level or below.

Quant System Output:


# Signals
Buy - 7.3477575566605554377849732373 - 5 day SMA crossed 13 day SMA
Buy - 7.7396316536415948509879072226 - 8 day SMA crossed 13 day SMA

# Comments
SMA 3 - 177.75 (173.08333333333333333333333333)
SMA 5 - 171.10 (164.95)
SMA 8 - 165.625 (162.6875)
SMA 13 - 165.25 (167.50)
SMA 21 - 182.52380952380952380952380952 (184.27380952380952380952380952)
SMA 34 - 197.97794117647058823529411765 (199.73529411764705882352941176)
SMA 55 - 223.94090909090909090909090909 (226.10454545454545454545454545)
SMA 89 - 239.09269662921348314606741573 (240.64606741573033707865168539)
SMA 144 - 279.140625 (280.34895833333333333333333333)
SMA 233 - 274.57806866952789699570815451 (274.83557939914163090128755365)