PEB - Pacific Edge Ltd

[Hoop]

Its been 12 days and 600 posts since my last scary chart

Luckily PEB managed to manufacture a support at the psychological $1 point (99c) to stop the freefall.
There has been some sort of relief rally to 120 but failed at that resistance point when buyer numbers dwindled...This is disturbing as failure to rally past a significant resistance level are the signatures of bear market corrections (sucker rally..dead cat bounces, etc) Also a signature of a dead cat bounce is the rule of thumb.. expect a bounce of 30% of the fall....157 -99 = 58 x 30% = 19c bounce...well PEB gave a 21c bounce...near enough to be worried?..yes.

If we rely on hope... then the untested $1 (99c) support has to be strong enough to resist this suspected continuation pattern...it is looking more likely than not that the $1 support is going to be tested....There is still a vacuum below $1 down to 70c so the $1 support is the technical cliff edge....scary...

On trying to look on the positive side....... There's a smidgen of a hint of support at 110c,If buyers come back, e.g buoyed on by an increasing Nasdq, then the 120c resistance becomes a focal point and that ultra weak 110 support becomes slightly stronger...If the price goes above this point then I suspect medium term buy signals will trigger and the huge technical risk will dissipate somewhat...This reduction of the risk premium will adjust the price upwards.

[winner69]

Hey Hoop .... you used the term 'blow off'

The only other times you have used this term has been with DIL and dare I say it RAKON

A 50% FIB retracement at 98 cents on your chart adds support to your comment about what could happen if PEB falls to the 99/100 mark again

[Copper]

Many tks for your chartist comments guys.I have to say that I am leaning to the pessimistic side of things.My simple approach is based on the fact that the price has not had any sustained rise since the Nasdaq has had a good rally.All we have seen in my opinion is a rise early in the day followed by persistent selling as if one of those large holders is still unloading in a subtle way.We have also the uncertainty on the thread of whether there are ten thousand tests or a much smaller amount and whether they are paying tests or some other sort.All a bit weird until some actual statement is forthcoming.All the good news has passed and we are in decline not marching onward.IMHO this thing cannot stand a partly negative announcement.Thats just my simple view for consideration......Personally I hope I am wrong as it's a well deserving Company.
disc...sold earlier as advised on previous post.....cheers...

[winner69]

Nasdaq bio down heaps = PEB over 120 today

That's how it all works

[Minerbarejet]

Nasdaq bio down heaps = PEB over 120 today

That's how it all works

A somewhat contrarian view, Winner. Could be right - you never know with this lot.

[Copper]

Nasdaq bio down heaps = PEB over 120 today

That's how it all works

That's as good a reason as any....I have just looked at announcements from 2013 around this time and find in April nothing was announced of note and not until the last day of May when preliminary figures were announced was there anything of note.If this pans out the same this year we are in for a dull period.IMHO.

[Longhaul]

Its been 12 days and 600 posts since my last scary chart

Any idea where us mortals might find free charts that include OBV? Looks like quite a useful indicator.

[psychic]

Any idea where us mortals might find free charts that include OBV? Looks like quite a useful indicator.

http://bigcharts.marketwatch.com/

Advanced Charts, OBV under lower indicator

[Hoop]

Any idea where us mortals might find free charts that include OBV? Looks like quite a useful indicator.

Hi Longhaul
All the different style of charts I post on ST forum are from free programs... I did this so to show that anyone on Sharetrader can produce basic/advanced charts...Its particularily useful for FA investors who only want basic TA to time their buys and sells without having the expense in buying a program which they would not totally use...

My above chart is from Big Charts ...I RH click the mouse to save my chart to file then open it with my free open source software Paint.net program to add text, arrows, lines, shadings etc..When finished I save it again..then go online to Photobucket.com open up the file within photobucket and copy the image code and paste that code into your post in the ST forum thread....You probably have to register with photobucket the first time...its free...

Psychic has already posted the link.....once you have opened the webpage type the share code you are interested in in the blank box e.g Pacific Edge Biotechnology code is NZ:PEB Fletcher Building is NZ:FBU For Aussi shares e.g BHP Billiton Ltd is AU:BHP

Click the advance chart box and play around with the settings to suit.......you can save your settings..

Enjoy

EDIT: you can copy and paste Big charts straight from their website page to forum page When you do it this way they are live charts and self updating .......You can't do this with stockcharts nor incredible charts ...with them you have to use the above method I outlined

[Copper]

I don't know whether any of you have depth on your screens but there just seems to be a persistent seller in the background that stops the thing getting any traction.....