SUM once was 9% above it's IPO price, where OCA is today ..... a few years ago though
Now it's 230% above it's IPO price
OCA might do the same - when OCA gets to 262 wonder what SUM will be
Where are we in your up trending channel now mate ? Must be right at the bottom surely ?
Ecclesiastes 11:2: “Divide your portion to seven, or even to eight, for you do not know what misfortune may occur on the earth.”
Ben Graham - In the short run the market is a voting machine but in the long run the market is a weighing machine
At 0.7 STDEV from regression line from when SUM started trading its $4.37
Hmmm...$4.37 That's interesting Winner...That's my H&S pattern Target price..$4.37 See Chart link at bottom of my post#4952 15th June ..Back then SUM closed at $4.72 today it closed at $4.64..getting closer..
Channel lines are S&R lines...TP is not a support point
Hmmm...$4.37 That's interesting Winner...That's my H&S pattern Target price..$4.37 See Chart link at bottom of my post#4952 15th June ..Back then SUM closed at $4.72 today it closed at $4.64..getting closer..
Channel lines are S&R lines...TP is not a support point
Bit spooky eh
But don't forget that $4.37 is where the bottom of the channel is this week .....as SUM is long term up trending the $4.37 is a bit higher next week ......and so. (Calcs were done on weekly numbers)
”When investors are euphoric, they are incapable of recognising euphoria itself “
Occupation..nah, sounds too hash.....Picnic sounds good, cute furry and cuddly
Winner...If SUM stays within its channel, that rising channel will come up to 4.44 a major support (bull/bear line)... TA charting says If the channel goes higher above 4.44 SUM becomes somewhat derisked (a buy with stops [set just below the second support]) as the bottom channel line is also a support line..further up another support at 4.57..
I remind myself that SUM and MET dropped exactly the same as this last year then climbed back up. A good report / update from SUM will get things heading back in the right direction. I just hope there's no unexpected delays / costs from Auckland construction projects because that could hammer SP some more.
As a comment on the above
There is a hammer candle on the 9th June..... these sometimes indicate a bottom Attachment 8909
Traders could use the low on that as a stop loss to minimize risk.
This was breached yesterday but now back about it...
Bookmarks