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DUB.ASX Technicals Foretell Lower Prices

Feb. 10, 2016 6:17 PM ET
Please Note: Blog posts are not selected, edited or screened by Seeking Alpha editors.

Note about Technical Analysis

I was not a profitable trader until I learned technical trading techniques from the James16 Group. I am currently a lifetime member there, and I have been with the group for about 2.5 years.

Trading is always variable. Meaning, losses are inevitable. I am human, and I make mistakes like anyone else.

Summary

DUB.ASX is showing downward pressure, as price has broken through the support area at 0.665 AUD. This support area is likely to turn into resistance, feeding the downward momentum.

Possible price targets could be 0.425 to 0.47. If price breaks this level, it may head to 0.35.

Devil's Advocate

Price had a nice strong push up back in November, 2015. This may offset the downward pressure by stalling it and forcing price back up above the resistance. If this happens, price is likely to retest the recent highs.

About DUB.ASX

DUB trades on the Australian Stock Exchange.

Dubber Corporation Limited, formerly Crucible Gold Limited, is a cloud-based software service provider. The Dubber Platform provides call recording and audio asset management in the cloud. Dubber is a transformative cloud based Software-as-a-Service (SAAS) solution. The Dubber Platform captures call recordings from many sources, including from browsers, mobile, private automatic branch exchange (PABX) hosted voice applications and legacy recording devices; manages recordings in a secure, permission-based environment, and provides value added tools enabling the use of recordings. The Dubber Platform is applicable to small and medium size enterprises.

Analyst's Disclosure: I/we have no positions in any stocks mentioned, but may initiate a short position in DUB.ASX over the next 72 hours.

Seeking Alpha's Disclosure: Past performance is no guarantee of future results. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. Any views or opinions expressed above may not reflect those of Seeking Alpha as a whole. Seeking Alpha is not a licensed securities dealer, broker or US investment adviser or investment bank. Our analysts are third party authors that include both professional investors and individual investors who may not be licensed or certified by any institute or regulatory body.

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