PGW - PGG Wrightson

[duncan macgregor]

quote:Originally posted by kittydashwood

I looked at the chart again and see a distinct possible at we could see a fibonacci retrenchment from the resistance at 2.10.
33% of 2.10 =.70
15% of 2.10 =.35
So I my low entry target is ---- 1.40
First stop on the way there should be ---- 1.75

Carefull Kitty you are getting very close to me placing you in the same pigeon hole that i have yogi in oz in. I take it hopefully that this numbers game has nothing to do with lunar predictions?. Have a chat to yogi you might have something in common. Only joking.
macdunk

[Mick100]

Well Macdunk, It looks as though we got this one wrong - never mind - if there's two of us that are wrong it's not so bad

Seriously now - if your in for the long term I don't think there's much to be concerned about
The fundermentals look very good for this company over the next 12 months. The NZ dollar is likely to fall further and demand from asia is likely to strengthen. Ag commodites always trail the metals and energy in the typical commodities bull market. I'd be very surprised if Ag commodities don't have a good run up in price over the next couple of yrs.
.

[shasta]

Bit early to say that Mick, the fundamentals haven't materially changed, & should the share price drop down to anything like $1.75 (as per Kitty's post) i would be lining up for some.

[Mick100]

quote:Originally posted by shasta

Bit early to say that Mick, the fundamentals haven't materially changed, .

That's exactly the same sought of feedback I got when I was loading up on miners and oilers in 2002-03
.

[kittydashwood]

yes duncan all chartists are astrologers right?
Fibonacci (1170-1240) lived and worked as a merchant and mathematician in Pisa, Italy

Fibonacci summation series: 1,1,2,3,5,8,13,21,34,55,……..

The ratio of any number to its next higher number approaches 0.618

The ratios or alternate numbers approach 2.618 or its inverse 0.382

Fibonacci percentage retrenchments or projection are 61.8%, 38% and 50%

[shasta]

Mick

My last post was in response to your one saying perhaps you & macdunk have got it wrong!

I do agree with you both on the fundamentals going forward & see this current weakness as perhaps a limited opportunity to get in a little earlier than i imagined, at a cheaper price.

[kittydashwood]

The fact remains we are all bottom picking a share which has broken medium uptrend.

[shasta]

For that fact alone, it is currently on my watchlist for longer term holds only.

[winner69]

quote:Originally posted by kittydashwood

I looked at the chart again and see a distinct possible at we could see a fibonacci retrenchment from the resistance at 2.10.
33% of 2.10 =.70
15% of 2.10 =.35
So I my low entry target is ---- 1.40
First stop on the way there should be ---- 1.75

KITTY ... Phaedrus wouldn't approve of how you calcualte these fib numbers ... like where do you get the 15% and the 33% from.

Bit closer to what they are with your other post.

I don't know whether the charts I use for PGW are right or not (bonus issues and all that) but they all look the same so as Phaedrus pointed in an earlier post they are probably OK .... if so the fib levels in my book are at 200 (38.2% retracement), 185 (50%) and 175 (61.8%).

If the charts are correct fibs have worked for PGW in the past ....

Certainly negative sentiment around this stock at the moment so keep an eye on the chart

[duncan macgregor]

quote:Originally posted by kittydashwood

yes duncan all chartists are astrologers right?
Fibonacci (1170-1240) lived and worked as a merchant and mathematician in Pisa, Italy

Fibonacci summation series: 1,1,2,3,5,8,13,21,34,55,……..

The ratio of any number to its next higher number approaches 0.618

The ratios or alternate numbers approach 2.618 or its inverse 0.382

Fibonacci percentage retrenchments or projection are 61.8%, 38% and 50%

KITTY, a bit off topic and a bit of pin pricking on my part.
Surely mathematics must be absolutely correct to the letter or it is worthless. LEONARDO PISANO FIBONACCi 1170-1250. He was eighty not seventy when he died. macdunk