Looks like a big drop due to rebalancing
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Looks like a big drop due to rebalancing
HaHa just shows you that TA comes second to the big boys games at any point, chart showed a breakout was about to occur a few days ago with the bolly bands squeezing along with other indicators showing a positive turn. Continuation of any breakout will now be determined by the Trumpets mouth over the weekend.Lol
I thought the TA was working quite well, Daily chart log scale. I only TA the A2M as it has the trading volume.
To simplify my usually very messy charts, I've removed all the Indicator noise and kept only the price action, supports & resistance lines and just the basic 50/200 EMA's.
You can see that yesterday the SP failed (indecision candle) at the top (resistance) of the Andrews Pitchfork (a kind of shorter term channel), suggesting a down day today, which happened.
The sell off today wasn't some big boys smashing the buy side, it was progressive selling into the bids, declining throughout the trading day with a few failed rallies. (drill into the 1 minute chart).
The rainbow background is the Fibs, it's remarkable how often the share price respects the .382 and .618 fibs. The .50 fib isn't really a fib, but it comes into play frequently with this high volume volatile stock.
I don't use this chart for prediction, I use it for reaction. Having a plan either way the SP moves is the basis, but TA suggests where the decision points are likely to be.
When I'm truely focused on the inflection points, on the day I'll drill down into the 1 minute chart, but that's totally consuming and not easily sustained if one has a day job as well.
TA is good, even essential imho, but it takes practice, time, confidence to act on it, willingness to flex with the learnings. But without it, I'd have nothing to do with something as volatile as this share is!
Attachment 10185
Good old TA.
A pattern for every occaision. :mellow:
C'mon Jan. You are paid a lot of money to make sure what you say is correct. Spot the mistake:
"
The new e-commerce law comes into effect from 1 January 2018, with the latest policy providing for a further three-month grace period to 31 March 2019, to ensure a smooth transition by CBEC companies to meet the new regulatory requirements. The Company and its major trading partners selling English label products to Chinese consumers are confident all requirements will be met on or before 31 March 2019. The a2 Milk Company Limited Jayne Hrdlicka Managing Director and CEO End CA:00327700 For:ATM Type:GENERAL Time:2018-12-03 08:30:41"
You would think that official announcements to the NZX would get proof read before release wouldn't you. Amateur hour yet again...its got to be a bit of a worry when the bare basics are not done right.
Its only 2017 isn't it?
Onwards and upwards from here....santa rally come early for ATM holders.