ATM - A2 Milk Corporation Limited

[Tee]

A beginner’s attempt at TA.
As2onishing run from 23 August to 28 September. All SMAs pointing upwards. Candlesticks were mostly green. Even if you bought a week after the results were announced, and sold on 28/9, you would have made a higher return than that of most asset managers.
On 28/9, its price shot up and yet at the end of the day, the candlestick changed colour to red. And not your everyday candle, it was huge, blood curling red candle with a wick at the top. On the next day, a smaller red candle appeared. My eyes see the beginning of a X’mas tree in the charts. Hey this looks like a shooting star formation, a sign of a bear emerging.
Prediction, a correction this week. Support is expected at $5.49.

[Leftfield]

Nice one Tee...... like the 'blood curdling' red candle bit.

While I'm no expert, I've noticed a recent trend of ATM bouncing above its 10 day MA and see support a tab higher at around the $6.50 mark - that is until we get more news such as the Lion court case (which begins next week.)

Mind you all this could be trumped by Nth Korea.

[Beagle]

Nice strong day on solid volume on both sides of the Tasman. Ended here up strongly at $6.67 but interestingly closed the day at close to the day's high in Australia at $A6.17 up A31 cents or over 5%, (equal to $6.71 at the closing cross rate of 0.9198). Hounds have been known to quench their thirst by lapping on fresh A2 milk

[RupertBear]

Hounds are clearly braver than this little bear I sold off a few today....surely it cant keep going up at this pace

[couta1]

Nice strong day on solid volume on both sides of the Tasman. Ended here up strongly at $6.67 but interestingly closed the day at close to the day's high in Australia at $A6.17 up A31 cents or over 5%, (equal to $6.71 at the closing cross rate of 0.9198). Hounds have been known to quench their thirst by lapping on fresh A2 milk

Lap it up Beagle, im more happy buying downtrending stocks like Spark(Getting my average price down slowly) than this volatile uptrending mother.

[gbogo]

Lap it up Beagle, im more happy buying downtrending stocks like Spark(Getting my average price down slowly) than this volatile uptrending mother.

I agree caution is required but that was a 10% pullback (7.05-6.40) and the way it snapped up this morning tells me there is still institutional buying. Perhaps index-related so more to come. Talk of $8 seemed fanciful but one local broker upgraded from $6.15-$7.65 (or thereabouts) last week. I've noticed slightly delayed reaction to those kind of upgrades before. Disc: long again. I've tried to take profits when it has been extended but every time, failed to get back in at a lower level because it hasn't go e lower. Finally, I'm not seeing relentlessly bullish optimism and headline news on ATM yet. I'll try to wait for that before selling again. Good luck with that!

[Snow Leopard]

Hounds are clearly braver than this little bear I sold off a few today....surely it cant keep going up at this pace

The words 'bear' and 'fear' should rhyme,
But they don't so no poem this time.

Keep your winners and sell the loss,
Great advice, but who gives a care?

The uptrend your friend, little bear,
Sell out when he's no longer there.


Best Wishes
Paper Tiger

[Leftfield]

Nice poem Paper Tiger. Interesting to reflect and (hopefully) learn. We ignore the trends at our peril.

Interesting to also reflect that back in July/Aug, over in the MPG forum, some were bullish noting a fall in SP as an opportunity to buy in, while others warned the down trend had not ended (along with the opportunity costs of tying up money in underperforming stocks.)

At the same time on this forum others were warning that ATM was overpriced and bound for a correction.

What has happened since? The following pic compares the ATM and MPG SP trends for the last 6 months.

Attachment 9215

[gbogo]

i.e. the trend is your friend.. and if you are ever going to go against the trend, be very careful ie don't try to catch a falling knife. But really that's saying Momentum investing is the way to go. I used to always think that, but I see some cases where Value investing can make sense these days. MPG was perhaps more of a Value play.

[Beagle]

It matters not where I stare
neither here nor there I fear the bear

but one thing changes not that I have little care
never change one's stride to fight the tide and
go slow with the flow to make one's portfolio grow