SUM - Summerset Group

[percy]

WOW, that result should silence the naysayers. Development margin in a so called challenging period is outstanding.

Couta1 was that you and your terrier, doing a spot of modelling on the 1st page of SUM's presentation?

[Beagle]

https://www.nzx.com/files/attachments/263382.pdf

The use of two dogs in the presentation instead of the usual one tells you all you need to know.
My only heads up for the full year result that I will go on record with is this, the full year presentation will warrant three dogs in the pictures I am more than happy to nominate Skippy my 11 year old Sydney Silky Terrier or his brother Basil who is even cuter but not quite so handsome, (if that makes sense).
Rating BBB

[couta1]

Couta1 was that you and your terrier, doing a spot of modelling on the 1st page of SUM's presentation?

HaHa, not yet, but in another 10 or so years definitely.

[trader_jackson]

Hmm... I'm sure it was mentioned on here that Summerset "set their own prices" for their units? and also that the property market doesn't affect retirement stocks (never did to RYM back in 08 or something?)

No worries

Back to $5 next week (3rd time I've said this in a few weeks or something... 3rd time lucky for sure)

Posted nearly exactly a month ago... after todays solid results (and yes the margin was a nice surprise) you'd think SUM would finally go over $5, in fact go way over over $5.

Only other thing that was surprising, given the solid results, is why they didn't upgrade profit guidance for the full year (...maybe they want to do an HBL and know they will achieve guidance and will over deliver?)

[BigBob]

looks like a double top is in

Called that a bit too early, I think...

Looks more like a double bottom with support around 480 holding....

[bull....]

Called that a bit too early, I think...

Looks more like a double bottom with support around 480 holding....

lol must have been a bad day , anyway good result

[Brain]

These TA formations are best called with the wisdom of hindsight.

[RTM]

These TA formations are best called with the wisdom of hindsight.

Excellent post ! Well summed up.

[peat]

These TA formations are best called with the wisdom of hindsight.

or just badly called in the first place.....

[Hoop]

These TA formations are best called with the wisdom of hindsight.

Brain ..believe it or not you are right.....Well done .

TA observes and analyses trading sentiment/behaviour. To do that you need knowledge and behavioural events from historic data to be able to compare..Wisdom is life experiences which is knowledge learned from historic events..Look at the chart below..using hindsight we have seen this 1,2,3,change of trend bottom pattern before..so we have wisdom (chart experience) that suggests SUM will rally up from today........... but maybe not as high as we might like......or.......... this rally performance could make up for the lesser than expected rally performance last time....

or just badly called in the first place.....

Bull was too quick off the mark to call it a double top pattern as the pattern had not yet completed (price had to fall to below 4.80) You can't called it a pattern until it is fully formed.

A double bottom pattern was also not correct as there is only one low point and that pattern (Bottom pattern [bullish]) was confirmed in Mid July and reinforced with todays rise....thereby dismissing any doubts of a failed bottom pattern and ends any thoughts of a double top...

Referring to SUM's chart we have just witnessed another bottom with a higher bottom ...noticing this Bottom Pattern we can apply the 1, 2, 3, trend method to confirm the change of trend (from down trend to up trend) and apply a target price of $5.85 (73% chance)

Also remember.. patterns commonly occur within patterns...
Ref: Bulkowski

Attachment 9085