SPK- Spark NZ (TELCO)

[nextbigthing]

Any chartists like to comment as to what's going on with Spark?

[craic]

Been trying to work this one out several times a day for the past few weeks and, regretfully, I have to work on the the idea that with the annual report just a week or so away, some people are in the know and taking profits while they can. It's always been a good indicator for me that if the price rises steadily close to the date - buy. If the price drops at the rate it is dropping, get out while the going is good. The date is 22 of this month.

[couta1]

Been trying to work this one out several times a day for the past few weeks and, regretfully, I have to work on the the idea that with the annual report just a week or so away, some people are in the know and taking profits while they can. It's always been a good indicator for me that if the price rises steadily close to the date - buy. If the price drops at the rate it is dropping, get out while the going is good. The date is 22 of this month.

So you reckon sell and forsake the divvy is the way to go here?

[airedale]

When is the record date for the divi?

[couta1]

When is the record date for the divi?

Info not available yet but normally goes ex divvy around Sept 18thish.

[Hoop]

Any chartists like to comment as to what's going on with Spark?

Ref:.. my chart in above post#138...
The 278 support is no biggee..the 275 (274ish)support is more significant as it is the top boundary of the old rectangle (trading range) pattern...the good news is that SPK tested that 275 support today and failed to break it...

Seeing the past few days falling price behaviour I assume SPK is in a throwback mode to retest its breakout price (support) before it resumes it's rally up again...This throw back behaviour happens 64% of all bullish rectangle pattern breakouts (Bulkowski)
(see The mid July rectangle pattern breakout on my above posted #138 chart)

...Alternatively if the price continues to fall....... a failed breakout creates a busted pattern scenario in which sees the price enter back into and then fall through the old pattern area (rectangle 265 -275 price area) this failure rate has only a 9% chance of happening see Busted rectangle patterns....Note: This hasn't happened yet with SPK !!!...

As with most price weaknesses testing support lines some more sensitive type indicators can fire off sell signals...

I see the price has bounced off 275 support and is now at 280... the traders quickly identifying its only a throwback (a paused bullish continuation event)..

Disc ..still holding

[Major von Tempsky]

The only significant thing is the result and data and statements they come out with on August 22. All the charting astrology and chicken reading entrails are totally irrelevant.
Give us just one thing, one item, which can be tested against what comes out on Aug 22.

[nextbigthing]

Thanks Hoop!

[Hoop]

The only significant thing is the result and data and statements they come out with on August 22. All the charting astrology and chicken reading entrails are totally irrelevant.
Give us just one thing, one item, which can be tested against what comes out on Aug 22.

OK ..this is one thing
I bought at IPO and more soon after ...I sold out of my very long term "Buy and Hold" TEL when it broke its long term trend at around $8 and mostly sat on the sidelines during its next 10 year downtrend (I entered a few times wished I hadn't and sold out with small losses)...obtaining about 300% capital return in total..I had a boring FA long term investing strategy back then, knew nothing about TA and traded infrequently.

You MVT on the other hand saw $8 then $7 then $6 then $5 then $4 then $3 as cheap and accumulated more reciting Buffet every time...but..really.. breaking 2 golden investment rules...buying (average down) in a downtrend...and.....applying a buy and hold strategy during a bear market cycle.... resulting in (assuming your average down is now to $5/share) a ~-50% capital loss to date

So assuming all those average downs now has decreased your purchased TEL shares to say $5 dollar/ share that will yield you ~3%pa now..while my TA discipline purchase price $2.82 will yield me ~6%pa

[airedale]

Thanks Hoop, MVT is well known for ill mannered and ungracious remarks about that which he has no time for.