Just taking the p*ss again? Or would you mind showing us where you possibly could see a head and shoulder pattern in the OCA trend chart?
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That head and shoulders on HGH was a ripper and anyone who bought at the bottom should give themselves a big pat on the back.
Attachment 10471 Looks to me like most of the damage has already been done.
OCA broke down through 100 day MA support at $1.15. I should have taken more notice. Long term, no issues, short term I struggle to see what the near term catalyst is for a rerating especially with the Macquarie ovferhang ?...not worried though because for me this is a long term holding.
The Choppiness Index suggests price action is rather trendless at the moment.
The OBV (On Balance Volume) indicates a consistent sell down of late....just as well the likes of BP and others are in the market buying up .....or that H&S pattern might develop pretty quick :t_up:;)
Beware, though, of the overactive imagination! ;)Quote:
“Imagination is more important than knowledge.”
Accept that OCA's shareprice will jump around until Maq's signals its further intentions for its holding.
Very profound of you macduffyQuote:
“Imagination is more important than knowledge.”
I agree with you as they say a person without imagination is like a teabag without hot water.
I’d rather have an overactive imagination than be like that
And they're well in profit, plenty of upside to sell into. So far there's no sign of that but we don't know their intentions hence the 'overhang'.
Nevertheless, the FA on this is compelling so I'm not too concerned and even at today's SP it is a long term earner.
If MacQ decided to seed the market with a good deal of shares (i.e. drop the SP doing so) I'd be happy to reap their profit and position even more than I already have for the longer term without them.
On Balance Volune was rising before the last Macquarie sell down. Since then the OBV has been falling ....ie persistent selling pressure.
If one reads things like Journal of Portfolio Management the general consensus is that a thing like ‘overhang’ has more emotional impacts than any real investing impacts. Investment managers buy and sell on fundamentals and ‘overhangs’ seldom influence those decisions.
With that persistent selling pressure since the last sell down msybevthe market is saying the fundamentals don’t stack up (against the hype)
Most of here no doubt think the market is really stupid.
Talking of being stupid I’m feeling rather stupid about buying OCA. Unlike the lucky ones in JT, BP, j_t and others i’m underwater with OCA ...it’s been a worse investment (if that’s what it’s calked) than my punt on Turners.