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20-06-2017, 02:14 PM
#4991
Originally Posted by Joshuatree
Care to explain that chart peat, its meaningless to me except the two wings i can see, lift off?
My take would be resistance line at 4.77 and support line at 4.66. The resistance at 4.77 may be a tougher hurdle than the support at 4.66 which if it starts heading that way will likely be a rather weak support. A break above 4.77 may act as a short term bullish sign but its certainly not a strong signal.
The FA vs TA argument is a good one, because if it goes down much lower than $4.66 some buyers will be salivating but who knows how low it could go?
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20-06-2017, 02:29 PM
#4992
Originally Posted by peat
Were you talking about a hammer indicator the other day ? Can you please explain to a simple hound that's far more fond of FA what's implied by this hammer signal ?
Ecclesiastes 11:2: “Divide your portion to seven, or even to eight, for you do not know what misfortune may occur on the earth.”
Ben Graham - In the short run the market is a voting machine but in the long run the market is a weighing machine
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20-06-2017, 02:30 PM
#4993
Originally Posted by Joshuatree
Care to explain that chart peat, its meaningless to me except the two wings i can see, lift off?
its the same type of pattern in my earlier chart
http://www.sharetrader.co.nz/showthread.php?5009-Summerset-Group-IPO&p=670397&viewfull=1#post670397
whats known as a buliish gartley, (I will go into more detail off this thread if requested) however in this case the chart is done using hourly candles. whereas the last one was daily.
Nasi I saw the support line at 4.69 and the failure at 4.66 but that said I'm not saying I will close at 4.65.
The combination of the bigger and the little gartley tipped me over to action
Obviously they dont always work out but when they do it can be powerful.
Yes they are wings ! Or M's .
Last edited by peat; 20-06-2017 at 02:31 PM.
For clarity, nothing I say is advice....
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20-06-2017, 02:35 PM
#4994
Originally Posted by Beagle
Were you talking about a hammer indicator the other day ? Can you please explain to a simple hound that's far more fond of FA what's implied by this hammer signal ?
Hammer would either say, you can't touch this... or stop... hammer time.
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20-06-2017, 02:35 PM
#4995
Originally Posted by Beagle
Were you talking about a hammer indicator the other day ? Can you please explain to a simple hound that's far more fond of FA what's implied by this hammer signal ?
a hammer is a type of candlestick which has a long wick at the bottom indicating support. Price tests the lows but bounces back quickly giving a long wick but the open and close are in the upper range.
Candle.gif
candlestick example (not a hammer)
Last edited by peat; 20-06-2017 at 02:38 PM.
For clarity, nothing I say is advice....
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20-06-2017, 02:40 PM
#4996
Ecclesiastes 11:2: “Divide your portion to seven, or even to eight, for you do not know what misfortune may occur on the earth.”
Ben Graham - In the short run the market is a voting machine but in the long run the market is a weighing machine
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20-06-2017, 09:12 PM
#4997
Yes thanks peat and Nasi.
My broker has some 5 pages out on retirement prop stocks moving from overweight to neutral on SUM atm. In a few words they are citing a cooling housing mkt will weigh on earnings , growth, sentiment and valns. Positive longterm view though with lots of explanations ORA charts etc.
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21-06-2017, 12:18 PM
#4998
heading to test major 4.50 I reckon , all retirement stocks look bit dodgy , ift may have timed this very nice
one step ahead of the herd
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21-06-2017, 01:48 PM
#4999
Originally Posted by bull....
heading to test major 4.50 I reckon , all retirement stocks look bit dodgy , ift may have timed this very nice
$4.21 the 52 week low - if it got to this I will do sum thinking... even more interesting because OCA has never looked stronger?
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21-06-2017, 03:03 PM
#5000
Originally Posted by trader_jackson
$4.21 the 52 week low - if it got to this I will do sum thinking... even more interesting because OCA has never looked stronger?
If it got to $4.21 - I would do sum serious buying
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