ATM - A2 Milk Corporation Limited

[JohnnyTheHorse]

I'm usually not one for short term gains but with the Dow raising after the Fed Chair speech but more importantly A2 broke several TA hurdles yesterday on the ASX so wise TA money should flood in and short positions will be covered.

My thinking too. Took a position on open.

[dreamcatcher]

Resistance today @ A$10.38 (NZ$11.06 @.9384)

[winner69]

This Huawei carry on ...here and Australia

Could China do something to cut back on IF from ANZ as a retaliation.

[Lego_Man]

https://thedailyblog.co.nz/2018/11/3...by-the-window/

I raise you:

https://thedailyblog.co.nz/2018/11/3...for-owning-us/

[winner69]

https://thedailyblog.co.nz/2018/11/3...by-the-window/

That cafe looks familiar from days bygone

Ouch ATM not giving me a return ..that would be bad outcome

[Ggcc]

Looks like a big drop due to rebalancing

[couta1]

Looks like a big drop due to rebalancing

HaHa just shows you that TA comes second to the big boys games at any point, chart showed a breakout was about to occur a few days ago with the bolly bands squeezing along with other indicators showing a positive turn. Continuation of any breakout will now be determined by the Trumpets mouth over the weekend.Lol

[JohnnyTheHorse]

My thinking too. Took a position on open.

Well that didn't work out

[couta1]

Well that didn't work out

By the end of next week you could well be saying the exact opposite.

[Baa_Baa]

HaHa just shows you that TA comes second to the big boys games at any point, chart showed a breakout was about to occur a few days ago with the bolly bands squeezing along with other indicators showing a positive turn. Continuation of any breakout will now be determined by the Trumpets mouth over the weekend.Lol

I thought the TA was working quite well, Daily chart log scale. I only TA the A2M as it has the trading volume.

To simplify my usually very messy charts, I've removed all the Indicator noise and kept only the price action, supports & resistance lines and just the basic 50/200 EMA's.

You can see that yesterday the SP failed (indecision candle) at the top (resistance) of the Andrews Pitchfork (a kind of shorter term channel), suggesting a down day today, which happened.

The sell off today wasn't some big boys smashing the buy side, it was progressive selling into the bids, declining throughout the trading day with a few failed rallies. (drill into the 1 minute chart).

The rainbow background is the Fibs, it's remarkable how often the share price respects the .382 and .618 fibs. The .50 fib isn't really a fib, but it comes into play frequently with this high volume volatile stock.

I don't use this chart for prediction, I use it for reaction. Having a plan either way the SP moves is the basis, but TA suggests where the decision points are likely to be.

When I'm truely focused on the inflection points, on the day I'll drill down into the 1 minute chart, but that's totally consuming and not easily sustained if one has a day job as well.

TA is good, even essential imho, but it takes practice, time, confidence to act on it, willingness to flex with the learnings. But without it, I'd have nothing to do with something as volatile as this share is!

Attachment 10185