I believe so, I've been happy with NPX and FPA, I must admit that PGW has had a different feel to it though. To be honest it's been a pretty hard year to lose money.
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I think it is time for a clean out of the old board who have destroyed shareholders value.
Have watched the buying pressure come in all day without seeing any significant news, definitely big volumes. Must be the market processing news that isn't readily available.
Turnover often increases substantially for a period following a big rights issue. There's generally holders who have been reluctant to sell the rights at what they consider to be "give-away" prices, hoping for a better market once rights trading is out of the way. And institutional buyers often think that they will get some bargains once there is more liquidity following an issue.
We saw this with NPX where turnover increased following their issue.
PGW would need to Close above 66 cents to end the 8 month downtrend and establish an uptrend.
(Today's close was 64 cents)
While Moving averages, crossovers, trendlines, oscillators etc are affected by trends, they are completely separate entities and have nothing to do with trend definitions.
An Uptrend is a succession of higher highs and higher lows.
A downtrend is a succession of lower lows and lower highs.
The minimum requirement for an uptrend is a higher high after a higher low.
The minimum requirement for a downtrend is a lower low after a lower high.
A trend is assumed to be in place until it is reversed by the opposite trend.
PGW has been in a "medium-term" downtrend for about 8 months so far. This downtrend is composed of "short-term" uptrends and "short-term" downtrends with the net result being a series of lower highs and lower lows - a "medium-term" downtrend.
This all sounds more complicated than it really is. The chart below should be easier to understand.
http://i602.photobucket.com/albums/t...sPB/PGW112.gif
Thanks for that explanation P.
Am I to understand from this that the "buy" signal only comes once the medium term uptrend is reestablished...thus 66.5c?
Or, can I answer that myself for you, and realise that this is only one indicator...and I need to be looking at OBV and crossover lines to establish the actual buy point?