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  1. #281
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    This has been dropping consistently for a while now. Especially this week, following the negative article in the Sunday Star?

    Most people still have MFT valued mid to High 5's. I was keen at 5, now they have dropped well well below that.

    Comments on - How much further this drop will carry on? If those brokers are dreaming with 5.50+ valuations? In general - Any good reason not to buy MFT right now??

  2. #282
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    Default MFT Chart Update

    Quote Originally Posted by buns View Post
    Most people still have MFT valued mid to High 5's. I was keen at 5, now they have dropped well well below that.
    Fundamentally, then, for most people, MFT must be a Buy. For them it represents value.

    Quote Originally Posted by buns View Post
    How much further will this drop carry on?
    No one can say. MFT has previously found support at $3.96 and $3.30 - this may happen again.

    Quote Originally Posted by buns View Post
    Are those brokers dreaming with their $5.50+ valuations?
    To some extent, all valuations are dreaming, Buns, in that they attempt to calculate what a stock is theoretically "worth" - what it ought to sell for. The market sets their real value. Something is only worth what you can sell it for.

    Quote Originally Posted by buns View Post
    Any good reason not to buy MFT right now??
    Yes. The sharprice is falling. No-one knows how far it will fall. Why not wait?

    MFT has nice tidy trends and performs very well with TA. You can see from the attached chart how the On Balance Volume indicator gave good Buy and Sell signals that preceded those derived from price trendline breaks. Volume changes generally precede price changes, so the OBV is usually a leading indicator.

    You sound like a staunch fundamentalist, Buns, but I'm sure you can see the value in a nice clear simple chart like this one. (Green arrows mark Buy signals, Red arrows mark Sell signals)


  3. #283
    Senior Member warthog's Avatar
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    Quote Originally Posted by Phaedrus View Post
    You sound like a staunch fundamentalist, Buns, but I'm sure you can see the value in a nice clear simple chart like this one. (Green arrows mark Buy signals, Red arrows mark Sell signals)

    Just a quick question Phaedrus:

    On both the OBV and price charts you posted for MFT, the price touched and in the case of OBV seemed to go below your green trendline. In theory this should have had you selling out at these points yet your graphs imply you stuck with the trade.

    The hog wondered if you had any thoughts you could share about when to get out of or into a trade when the relevant trendline is touched or breached.
    warthog ... muddy and smelly

  4. #284
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    The Hog has the eyesight of a hawk! Maybe his screen is running at a higher resolution than mine. Either way, I'm impressed. I have redrawn the OBV trendline with infinite care. It should never have crossed (even slightly) at the point you noticed, because that was what it was being set to. I have noticed that sometimes points can jump a pixel either way when I reduce the chart size for posting - maybe that is what happened here. Maybe my sight is failing. I'll shift my chair closer to the screen. Lucky it is LCD otherwise the radiation would likely see me off.

    Re the price touching the trendline - that would never be taken as a sell signal. It is, in fact, confirming the trendline. You can easily see that all 3 points of the price trendline are perfectly in line. With trendline breaks of any sort, you want a clear, obvious break. Some people specifically wait for the trendline to be penetrated by a certain percentage before acting. Others only act when the trendline has been broken for 2 consecutive days. If in any doubt at all, my preference is to bring in another indicator.

  5. #285
    Senior Member warthog's Avatar
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    Quote Originally Posted by Phaedrus View Post
    The Hog has the eyesight of a hawk!
    Thanks Phaerus. The hog is most appreciative of your infinite care. As expected but looking for confirmations of the hog's assumptions as you do your trendlines.
    warthog ... muddy and smelly

  6. #286
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    Don't worry about my red "Sell" arrow, JK - it was way back in May and has no bearing on whether you should buy MFT now or not. Let's rephrase your post....

    "For any of those whom are foolish enough to buy a downtrending stock on a falling OBV, a 10 cent dividend will be paid this month with an ex date of 17 July."

    Question :- How much do you think MFT will drop when it goes ex? Maybe 10 cents? 2.5% ?


  7. #287
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    12th of june looked fairly significant , what happened then?

  8. #288
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    Default RSI Divergences etc.

    Don't worry about respect, YK! "Is it safe to say some support should be expected at the $4.05ish level?" Just change the should to could. It is either still there or it is not. We don't really know until it is tested.

    "DB charts don't offer OBV. Is there a formula so RSI can be converted to OBV" No. There cannot be, because volume does not come into the RSI calculation at all. You can get access to OBV on BigCharts.

    "RSI has been increasing for 2 weeks?" I don't think so. The RSI has been tracking the price ever since the Bearish divergence back in early May. See how the March Bullish divergence was also an excellent signal.


  9. #289
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    Quote Originally Posted by ratkin View Post
    12th of june looked fairly significant, what happened then?
    It would appear to be a big player getting out.

  10. #290
    Speedy Az winner69's Avatar
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    Ever so tantalising close to a Golden Cross a week or so ago .... that 50MA line getting away from the 200MA line not good

    I'm hooked on these Golden Cross things

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