I don't know if you look at charts or not but this stock is poised to do something either up or down,the bollinger bands are quite tight and that usually means a breakout,just don't know when.
I'd hope up as well! I can't imagine there would be too many people willing to sell under 50 cents. Theres no reason I can see for it to go down anyway, sales in Aussie are looking fantastic (biggest selling milk and 19th most popular grocery item in Aus) and the UK sales look pretty promising (based on their marketing campaigns etc). Cracking China will provide quite a boost to sales as well one would imagine.
This 53 - 54 price is getting boring now! Slowly chipping away at the 1 mil sell order I suppose.
Maybe it is going to be boring for a while
Somebody mentioned the Bollingers tightening .... saying it signals a breakout .... up or down ..... but when the bollingers tighten for ATM the price doesn't seem to move for months and then wham it does .... most times upwards but like recently downwards
Have patience my friend .... it needs an announcement .... and whether that announcement is good or bad will be signalled prior by the price movements
Yes have patience....remember that is a virtue
Yes its boring....remember that is an emotion
yes Bollinger bands are squeezed ( indicating a trend shift ....since its flat lined its can only be a trend change (up or down) not a shift in (de)/acceleration.
Black knat..I too bought in on the sell signals under the reasoning the new equity should only depreciate the price by about 7% from 66/68ish to 62ish. and the top shareholder sell down was not seen as a typical TA negative signal but a positive to increase equity and add share liquidity to trading on entering the main NZX trading board.
So a month down this track and ATM has entered into rigor mortus ...so what has happened ?
Two things come to mind...
1....Mr Market has seen this sell down as smart money exiting.....so apply the old saying...Mr Market is always right until such time it proves itself wrong.....so far Mr Market hasn't proved itself wrong.
2....You can lead a horse to water but you can't make it drink.....Plan A..."lets increase the share liquidity to make available more shares for investors to buy"...Hmmmm..the volume hasn't risen as expected...Hello!!! anyone out there????
The depth shows there are plenty of buy/sell orders there but the players are very fussy and stubborn.
The TA chart has 3 money flow indicators which can pick up any accumulation shares by stealth ....OBV Accum/dist and Twiggs ...Twiggs is the most sensitve and is showing only very slight (if any) interest in accumulation so the deduction is that there isn't much interest in ATM at this moment in time, individual and institutional traders attentions are elsewhere... Even the trading range is too narrow (52 -54) for the quick in and out traders.
When will this situation end....who knows??? Ok, there's a lot of share overhang on this market but this situation doesn't seem to be your typical time dependent "snake digesting a big meal bulge" scenario... I think ATM just needs a jump start to increase buyer activity...It could be tomorrow next month next winter or on the other side of the coin, there could be an "enough is enough" impatient ATM sell down to free up investor capital and invest it elsewhere on the rising bull market.
Originally Posted by kizame
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