Technicial Analysis - Buy/Sell Signals

[David Hardman]

I'm a TA novice but thought it would be useful to start a thread to highlight possible trades.

I'll start things off.

MYO - Ascending triangle developing. Potential for 20 to 25cent breakout when/if it breaks 1.10

http://img45.imageshack.us/img45/39/myorl4.gif

As a side note it looks like GPG is trying to increase its stake (currently @ 12%). Talk of MYO been taken out by private equity interests.

Disc - Bought MYO today at 1.085

[ananda77]

Hardman:

...personally, when confronted with an ascending triangle at this late stage, I tend to (try to) wait till I know for sure which way the break-out is going to go...it won't take long till things are becoming clearer. There is a good possibility that myo will trade back to 96/98 if it does not break out upward soon. Stop-loss around 92

Kind Regards

[David Hardman]

Ananda

Your probably right I should of waited for confirmation of the break out. Still happy with my purchase at 1.08. Huge line of stock went through today. Someone is accumulating a stake.

How bout this one Ananda.

Matilda (MAL). Been holding this stock for sometime now. Well documented on the MAL thread!

http://img167.imageshack.us/img167/1366/malmr1.png

Been sold down recently but making a come back. Has always given positive returns if you trade on a 30 day simple moving average. Typically you can pickup 10-20% gain. RSI indicated an over sold condition a few trading sessions ago.

[ananda77]

David Hardman:

...able to see your take on the 30-day MA, and if history repeats itself you should be fine...and agreed: evidence of accumulation is there and...

-daily weighted close X monthly weighted close
-weekly weighted close X monthly weighted close

...and it's the end of the month. Ergo, although at this stage, the monthly weighted close remains negative, some people out there expect some fine price action in November

...Good choice

Kind Regards

[ananda77]

...here are the pictures...

<center>http://img.villagephotos.com/p/2004-12/905046/mal1.gif</center>

...because the 21-day MA ranges below the 100-day MA, the MA-picture does not produce a 'buy-signal according to my 'buy'-parameters

...however, MA's are notorious late bloomers

<center>http://img.villagephotos.com/p/2004-12/905046/mal2.gif</center>

...the weighted close cross-overs deliver a far better 'ON-TIME' signal, especially when encountered at the end of each month or at the end of each trading quarter ( often signaling a major change in trend for international indexes)

Kind Regards

[David Hardman]

Thanks again Ananda...

Try this one on for size.

RDM - Red Metal.

- Trading today at 35cents. 30c and 32c provided stiff resistance in the past
- Ascending triangle formed (a rough looking one)
- Huge volume last few days

Could be interesting if it finds support above previous resistance levels.

http://img255.imageshack.us/img255/7897/rdmjv9.gif

[trader-jim]

Don't know much about TA but looks like reistance at ~35cents starting mar 05. If it breaks out above that it could be a sign if other indicators also look positive. If you use 35c as top of triangle it may still have a few months to go.

[ananda77]

David Hardman:

...take it easy on rdm for the time being - without knowledge of any fundamental data, they could be selling ice cream as far as that is concerned, from a technical point of view, would rate it as a strong buy but:

-not just now, simply because there is too much momentum in this price action, which I think is unsustainable even over the short-term

-but thanks for pointing this one out...will place an order at 32/33

Kind Regards

[David Hardman]

Ananda

MAL popped to 67 today. Did you get on it?

Broken through its resistance at 62. Could test previous highs tomorrow?

What do your charts say now?

You probably also got RDM filled today? Must say its not for the faint hearted.

[ananda77]

David Hardman:

-MAL...enjoy the ride

-RDM...decided, I am better off with AGM

Kind Regards

[David Hardman]

quote:Originally posted by David Hardman

I'm a TA novice but thought it would be useful to start a thread to highlight possible trades.

I'll start things off.

MYO - Ascending triangle developing. Potential for 20 to 25cent breakout when/if it breaks 1.10

http://img45.imageshack.us/img45/39/myorl4.gif

As a side note it looks like GPG is trying to increase its stake (currently @ 12%). Talk of MYO been taken out by private equity interests.

Disc - Bought MYO today at 1.085



We could be very close to our breakout.

Pooped to 1.12 on the close.

[BSA]

Hi David,

Break out was above $1.095 resistance, although I dont see it as an ascending triangle,...but a break above resistance on increasing volume none the less:)

Cheers

[pimpit]

I like it when TA people say if the stock reach $x resistance level you should buy. what the? I should pay more ?

[BSA]

No you dont have to do that at all Pimpit, it is purely a trade taken on its individual merit.

Perhaps the TA trader, intitially bought around 81c (anticipating a possible double bottom)
Perhaps the TA trader bought at 88c on 28/06/06(double bottom confirmation level)
Perhaps the TA trader bought end of Aug at 92c (small ascending triangle break)
Perhaps the TA trader bought in today on break of resistance????
All valid trades and depending on time frame the TA trader may have pyramided at each level, or taken them as individual trades,..strokes for folks.
No TAer is telling YOU to do anything, David is just mentioning a potential trade for those who may be interested.

Cheers

[David Hardman]

Lets try this again :-)

DWS looking good for a breakout

Ascending triangle formed over last 5-6 sessions.

Higher highs, lower lows.

Parabolic signals buy two sessions ago

2.45 provided resistance in the past

Watch for the break

[gisborne_gold]

David good on you for posting your TA ideas. I for one find your posts interesting.

It looks to me that DWS has been trading in a long term uptrend but sideways for 6 weeks in the 2.30 to 2.45 range. We must wait for a new short term trend to form. Will it be upwards? There are some positive signs. You mentioned the parabolic SAR indicators. Another is that the fast and slow stochastic oscillators have crossed upwards within the last week which suggests an upwards move. I agree with you, a break above 2.45 is the signal event to watch for.

[David Hardman]

quote:Originally posted by gisborne_gold

David good on you for posting your TA ideas. I for one find your posts interesting.

It looks to me that DWS has been trading in a long term uptrend but sideways for 6 weeks in the 2.30 to 2.45 range. We must wait for a new short term trend to form. Will it be upwards? There are some positive signs. You mentioned the parabolic SAR indicators. Another is that the fast and slow stochastic oscillators have crossed upwards within the last week which suggests an upwards move. I agree with you, a break above 2.45 is the signal event to watch for.



Gissy

Have we got our break out?

Volume to low to confirm.. But we are now trading at 2.55 bid

[gisborne_gold]

quote:
Have we got our break out?
Volume to low to confirm.. But we are now trading at 2.55 bid


I think you're right. It's a new high, with supporting indicators. The only thing missing is supporting volume. Well spotted and what excellent timing on your part.

[Footsie]

DH
DWS is a great stock......... i should have bought some when i first came across it at 1.80
alas...one i missed

[Rainesy]

Hey Footsie,

Don't put this one in the corner yet. I bought at the IPO and word is their FY reports will be VERY positive. $3 will be reached this year, possibly by early August and I suspect the trend will continue.

Rainesy

[David Hardman]

So we picked the last DWS ascending triangle perfectly. Sure enough it broke through 2.45 nicely the day after I posted.

I'm seeing another ascending triangle for DWS forming over the last 5 sessions. This time its got to get through 2.70 for the breakout. Odds on that it will ;)

Also expect to hear some good numbers from DWS in the next month or so. They seem to under promise and over deliver.