4 ups and 3 downs in the past month
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So you answer a question about the 100MA saying it hadn't broken when it had, then quote the 90MA to confirm your throw-away comment that SP goes up and down (like we're blind to volatility), and fail to acknowledge the current SP broke up through the 100MA on Monday, back tested it Tuesday and bolted forth closing 0.47 above it today. Sure the SP goes up and down, though the question was whether the 100MA had broken, and it had.
I hope this won't deter you from continuing to practice your TA, firstly by starting with a decent chart tool. If it helps, don't waste your time TA'ing ATM, it's illiquid compared to the ASX where A2M gives off strong TA signals, those that can actually be traded. An important TA signal happened today, and it's not an MA.
I agree with you Baa Baa, TA looking healthy.
This chart by Hoots on HotCopper sums it up well....
Attachment 10253
A day or so ago TA was all a flutter with excitement with ATM hitting $11.50 having apparently broken the all important MA100. Now its back down to $11.36 - something I didnt see the Chartists predicting.
I stand by my "usual up and down" trend statement (which is stating the bleeding obvious with ATM.) and will add that no tool can accurately predict with precision the movement of ATM. Suffice to say it will go up, which is why I hold.
Disc - not a trader but a long term investor
Hoop who sadly doesn’t post any more on ST says this about ATM — Officially-- BEAR..Technically-- recent unconfirmed reversal to BULL
That’s pretty good eh
You've done well using TA, I wouldn't trade without it. On A2M the breakout close above the medium term down trend line from the spike high was encouraging, as was the perfect back test of it yesterday, bounce and closed above again at $10.80. Closing the gap between 10.99 and 11.30 is the next hurdle.
IMHO a mix of TA, FA and Gutometer is hard to beat. Get the trifecta and you are away!! :t_up:
Interesting post today on HC quoting scan data from "Australia's largest retail supermarket group" stating A2 IF sales for the last qtr up 61% on pp, and that A2 now has 31% market share.
Add these sales trends to Hoot's 'encouraging' T/A analysis and my gutometer is getting a tab excited!
(However, as Couta and Balance point out, we still have to contend with the shorters in the meantime till the next update comes out.)
I think you have summed it up well Couta. I think the successful TA guys and girls are probably being influenced by their Gutometer more than they realise. Those gut feelings influence where and how they draw their lines and the decisions they make.
Personally I just rely on my whiskers - mostly they are right enough to counter when they are very very wrong. Maybe it has been too easy in this market over the last 10 years or so and a chimp throwing darts would probably be as good as this cats whiskers. Very hard to say.
Nestle and their maternal A2 milk powder.
https://www.nutraingredients-asia.co...aign=copyright