SUM - Summerset Group

[Nasi Goreng]

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?

[Beagle]

I'm in , another pattern on a smaller scale has tipped me.

Attachment 8924

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 ?

[peat]

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 .

[Nasi Goreng]

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.

[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 ?

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)

[Beagle]

Thanks peat.

[Joshuatree]

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.

[bull....]

heading to test major 4.50 I reckon , all retirement stocks look bit dodgy , ift may have timed this very nice

[trader_jackson]

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?

[Mickey]

$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