ATM - A2 Milk Corporation Limited

[Baa_Baa]

Could you or someone post a chart because I cannot see a double top test and double top breakout. Not sure what I am looking for.

Attachment 9290

Daily chart, log scale, 50EMA & 200MA

[see weed]

I think the shorter's came out to play yesterday and maybe again today. The hound is ready to play with them from the other side of the sandpit...bring it on.

Buy some now and buy the other half later. Or buy them all now and even more later. It will be over $9 again soon.

[gbogo]

I saw that too. Failure to hold $9.00 and close lower makes yesterday quite bearish short-term but maybe longer-term. (I don't hear many naysayers on here - except for $3 valuation-er). Chartists would look to buy at $7.00 area, depending on price action when and if it gets there.

[couta1]

I saw that too. Failure to hold $9.00 and close lower makes yesterday quite bearish short-term but maybe longer-term. (I don't hear many naysayers on here - except for $3 valuation-er). Chartists would look to buy at $7.00 area, depending on price action when and if it gets there.

The upcoming inclusion into the ASX 100 will ensure the dips don't last long, $3 valuation is a yeah right kinda moment.

[Snow Leopard]

Attachment 9290

Daily chart, log scale, 50EMA & 200MA

That is a boring cartoon, who every heard of talking blocks and there is no humour.

Try Calvin and Hobbes instead:



PT

[moka]

Attachment 9290

Daily chart, log scale, 50EMA & 200MA

Thank you for the chart Baa Baa. It is easy to see now.
You are seeing a double top and I am seeing a cup and handle as per William O’Neill – How to Make Money in Stocks. It is really obvious to me when I look at a 2 or 5 year chart. He says there are specific chart patterns that are repeated over and over again. You have a huge advantage once you learn to recognise these patterns that in effect tell you when a stock is under professional accumulation. Find stocks with big increases in sales, earnings and return on equity plus strong chart patterns revealing institutional buying. ATM is certainly under professional accumulation, so I think this is just a little bump in the long term trend.

The cup should be nicely rounded. It is a signal of consolidation within a trend where weaker buyers leave the market and new buyers and resolute holders stay - which is what is happening with ATM. We’ve had the cup and this is the handle which is a relatively smaller downward movement before the stock moves higher and continues its previous trend.
Perhaps our time frames are different. I am looking long term while the double top is for short term traders?
So Paper Tiger sees a cup and handle too!

[winner69]

Does third time lucky come into this $9 debate

[Snow Leopard]

...So Paper Tiger sees a cup and handle too!

moka I am being my usual cynical self.

It is only a cup and handle if it becomes a cup and handle (stupid name though, like those stars are a crab, pair of scales, mobile phone etc.)

If the price wobbles go another way it is a double top , or triple top with twist, or any of the myriad other patterns that are in the book.

The future is uncertain except that what ever happens you can bet your last piece of chocolate that some TA/chartist will pop up and show you how the charts were clear on it.

Go with the flow
Paper Tiger

[RGR367]

............

It is only a cup and handle if it becomes a cup and handle (stupid name though, like those stars are a crab, pair of scales, mobile phone etc.)

...............

C'mon PT. Cup and/or handle, perfectly fits what the thread is all about,,,,,,,,,,, milk

[Snow Leopard]

C'mon PT. Cup and/or handle, perfectly fits what the thread is all about,,,,,,,,,,, milk

It Is Friday and I am more interested in bottle patterns.

Cheers
Paper Tiger

Disc: Have ATM shares