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Thread: SANford Chart

  1. #1
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    Default SANford Chart

    For the first time since 2000, SAN has fallen below $4.70.
    This stock had found consistent and reliable support at this level many times over the last 3 1/2 years.


  2. #2
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    Today is the record date for 9cps dividend too, so it is likely to be lower come Monday.

    Regards JAMP
    NZX: MCH MFT RBD SAN SKX SPN VTX WRI
    UCM: KCE

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    OBV rising.

  4. #4
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    Kitty,
    I'm not sure what time frame you are looking at when you say the OBV is rising - broadly speaking, it has been more or less level (trendless) all this year. Here is my take on the SAN/OBV relationship :-

    You can see that there have never been any "Class A" divergences (When Price and OBV go in opposite directions) inferring that institutions or other big buyers have not been taking any great interest in SAN - buying or selling. Note too that the OBV is still in negative territory. In the absence of any clear divergence or trend, the OBV is not much help to us here, in my opinion.

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    Phaedrus and Kitty, I can't confess to knowing what an OBV is...so perhaps I should be posting into the other Sanford thread.

    Following a recent purchase (16Jun04) at $4-60, I have averaged down my holding in SAN. With the shareprice having broken the previous support level of $4-70, is it your expectation that this will now become a level of resistance?

    Regards JAMP
    NZX: MCH MFT RBD SAN SKX SPN VTX WRI
    UCM: KCE

  6. #6
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    Jamp,
    That's correct - a support level, once broken, commonly becomes a new resistance level. Commonly, not invariably.
    I have no expectations - all I know is that Sanford is looking weaker now than it has in quite a while. Even if you take the optimistic view that the trading range is continuing, this stock has gone nowhere for over 2 years. During this time many NZ stocks have made significant gains.
    So you have just bought - maybe you were feeling lucky, maybe you have picked the bottom to perfection, maybe you know something that others don't, maybe something fundamental has changed, maybe you are a true contrarian. Good luck to you - SAN owes you a drink or two.


  7. #7
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    Lookat all dem double tops (and the subsequent dips) on Phaedrus' first chart! Sheesh.

  8. #8
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    Luckily SAN doesn't really owe me anything - I have only been with them since Apr04.

    The one certainty in their industry is that things will change. I do believe that they are well positioned to;

    a) roll with the punches when the change is for the worse
    and
    b) move forwards when the change is for the better

    As an aside, if SAN push north of $4-70 will this become a support level again?

    Regards JAMP
    NZX: MCH MFT RBD SAN SKX SPN VTX WRI
    UCM: KCE

  9. #9
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    SAN looking pretty weak at the moment

    Overall market doing remarkably well but SAN sinking to leveks not seen since the turn of the century

    With little demand at current even the listed low p/e is not attractive

    Wonder what is going on?
    “ At the top of every bubble, everyone is convinced it's not yet a bubble.”

  10. #10
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    Don't know, but whatever it is, it has been going on since mid 2001!
    Notice how nicely and accurately the support SAN had at $4.70 became resistance, once this long-term support level was broken.

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