Bgt today ... 10% discount to recent prices, 5%+ dividend yield and great growth prospects. Healthcare is a great long term place to put yr money!
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Bgt today ... 10% discount to recent prices, 5%+ dividend yield and great growth prospects. Healthcare is a great long term place to put yr money!
Phaedrus – could you please post a TA chart for Ebos. Of interest would be the buy / sell signals. I see they that the SP is quoted today up at 480 – 485cps..
Would this be the recently posted div pulling it up or just a supply demand thing?
Your comments would be appreciated..
Cheers M
Melchet, EBO is in a long-term (18 year!) uptrend. It is in a "medium-term" (2 year) downtrend and it is in a "short-term" (4 month) uptrend.
The chart shows that the confirmed trendline monitoring the medium-term downtrend was broken about 3 weeks ago, giving a Buy signal. Note that technically, the medium-term downtrend has not ended yet. It would take a Close above the resistance at $5.00 to accomplish that. Resistance/support is often found at round figures.
The "short-term" uptrend has a confirmed trendline in place. A break below this would signal an exit from the trade entered at the green arrow.
The OBV plot is interesting. See how the OBV continued to rise while prices fell over the first half of this chart. EBO was being accumulated in spite of the downtrend. Note that the OBV has been flat/falling for the duration of the short-term uptrend. In spite of the steepness of this uptrend, unless it gets some volume support it is likely to run out of steam.
http://h1.ripway.com/78963/EBO47.gif
Phaedrus
Thanks for your time collating the chart and your opinion.
Looking at what has happened over the last week, there has been another peak in the last few days at $4.80. It has dropped back to $4.65.
In reading what you have said, could we expect another smaller rise less to a peak lower than the $4.80 and a corresponding drop a little lower than the $4.65.. Going on the OBV and the medium-term downtrend?
Cheers M
Melchett, EBO is forming a Symmetrical Triangle pattern. When these appear after an uptrend (as in this case) in 64% of cases they are a consolidation pattern and break to the upside. In 36% of cases they break to the downside. Note the falling OBV, though. To my mind this does not auger well for EBO in the short term, so I reckon that a downside breakout is at least as likely as an upside breakout. Any downside breakout could mean a trendline break as well.
In the event of an upside breakout, it would not be unreasonable to expect some resistance at $5.00 as before.
http://h1.ripway.com/78963/EBO411.gif
Lay off the adulation eh Lodger!
It is important to realise that we are aiming at a moving target here and things can change very fast. While a week might be a long time in politics, a single day can encompass a lot of change in the market. Look at this series of charts, just a few days apart, and see how rapidly the prognosis can change.
Chart number one (just before Easter) :-
http://h1.ripway.com/78963/EBO1.gif
THE VERY NEXT TRADING DAY (immediately after Easter) everything suddenly changed. Very strong buying pressure appeared and carried all before it. (Tall green line in Volume histogram at bottom of chart)
http://h1.ripway.com/78963/EBO2.gif
Here is the latest chart. Note how prior to the pivotal big Upday all high volume days were down days (red bars). See how after that crucial day, all high volume days were UP days (green volume bars). In a single day, market sentiment toward EBO changed from negative to positive.
http://h1.ripway.com/78963/EBO3.gif
EBO NPAT up 18.4% to another record!
And SP jumped to a two year high of $5-74.
Anyone else holding these?
:cool:
Have held them, off and on, over a number of years, and currently holding. They have served me well. They tick a lot of boxes: healthcare products is a growth industry, wealthy cornerstone shareholder (Stewart family), steady acquisitions policy (with conservative debt), and Waller has proved a capable (and well-paid!) operator.
Shares tend to be tightly held, so liquidity can be a bit of an issue.
EBO continues on as a perfect working example of textbook TA in action.
Every move has been foreshadowed.
http://h1.ripway.com/78963/EBO820.gif