ABY - Aditya Birla Minerals

[The Captain]

What do the charts have to say about this one? DMI suggests that a sell off is happening and will continue to happen as it seems to suggest that selling will continue and that strength in the selling is increasing. Oscillator is confirming the current trend. MACD has been decreasing since May and is now firmly in negative ground. Stock is now well below 200 and 50 Moving Averages with the 200 now turning down sharply. All this seems to suggest that there will be more bad news in the stock price to come. Glad I'm not holding this one. But like anything you should do your own research and formulate your own idea. You can always find someone who has a different idea on this stock. Never take my recommendation as to buy or sell this stock. Cheers and happy trading.

 

[easyrider_au]

You got it right Captain.
I'm just a mug for holding on..
I thought It was a good move yesterday gettin some more at .20c.....grrrrr

 

[speculator101]

Hey easyrider.
Well for what its worth...
I bought at $1.40... rode it to 3.12... sold a little...and just sat back and watched it collapse...

So, JBWere, after saying buy buy buy for... two years... from $3.30... all the way until 2 weeks ago.. when they changed their minds to a hold... then finally, when it got to 30cents... sell.. ha!
Basically, half of ABY's copper production costs them $2 per pound, and the price is about $1.70... so bugger.

I have put them in the bottem draw, and will pull out when Chinese and Indian middle class want more phone lines again... sigh.

IMHO.

 

[inenigma]

So at $0.14, it's not bad value now ???

I've only just started watching stocks and ABY caught my eye a few weeks back.

 

[adobee]

anyone holding ABY... anything I should know about this company ? any association with dodgy stock broking companies ??

 

[SM Junkie]

ABY recently closed a mine in QLD. Their Copper mine in WA still going strong, so far not affected by global slowdown. The positive about this company is that they are an Indian company and sell their product back to India.

 

[challenger123]

I wonder if the Aussie mining stocks will have a positive affect from this government decision in China?

From BizChina website!

China to raise tax rebates on textile, metal exports(Xinhua)
Updated: 2009-03-25 18:05
China would raise the tax rebate rate on some textile, iron and steel, nonferrous metal, petrochemical, electronic information and light industrial exports from April 1, the State Council, or China's Cabinet, announced Wednesday.

 

[adobee]

wow plenty of interest for ABY this morning up 40% + ...
and still going strong..
I am not even aware of any good news on this front.. they replied to a speeding ticket last week saying there was nothing .. there must be something !!

 

[adobee]

and its taking off again.. Am I the only ASFer with stock in this and interest in this huge run...

No news out yet so seems to be pure speculation.. or a big pump and dump but looking at about 100% since yesterdays open ..

 

[Engineer]

Yes I bought some earlier this year before the plummet to 10c,
So this recent fall of 10c in two days looks like the dumping after the pumping as Adobee says. I think they are most probaly really cheap /:undervalued and the debt level is very low, but the worry is is there some big problem out there? But I think it is just some profit taking. Which I should have done

 

[wtang89]

Hey all,

Anyone looking at this stock today? up 19% and its ONLY 10:22 with no announcements. Think its another bull run? Any ideas?

 

[adobee]

I jumped out this morning at 45c.. has been up and down last few weeks..
think it follows the metals price.. seems to be resistance around 50c..
I will look at it again on the retreat or else if it breaks through..

 

[wtang89]

Nice work, i jumped in 2 days ago at 35c and yeah i agree with you about the resistance at 50c. Although i stayed in, i am curious as to the movement of ABY after the RBA meeting. After the 200+ on the Dow jones, i feel that the ASX has been relatively tame today. Have the feeling that we are all waiting for the 'go ahead' from the RBA. Be interesting to see its movements in the arvo as well as the next few days. Happy trading all

 

[Namrog477]

I bought in at 41c and, after reading a recommendation by some newspaper bozo sold out at 28c!!
Current value is now 65c!!

Next time I'll just trust my gut I think.

 

[wtang89]

Oh bad luck, i sold half yesterday at 63c...been regretting it since. cant wait till i buy some more. Go copper prices ^^

 

[Boggo]

Two charts of ABY below.

On the first chart it was a textbook effort, can it do a repeat ??

(click to enlarge)

 

[skyQuake]

Would love to see that downtrend break for some quick dirty action.

But perhaps there will be a shakeout first to remove all the weak hands

 

[wtang89]

Hey skyquake,

You wont be the one that won that JP morgan thing not that far ago could ya? If you did good job, some hectic trading there

 

[fureien]

Hey skyquake,

You wont be the one that won that JP morgan thing not that far ago could ya? If you did good job, some hectic trading there

Holy cra*P! i just noticed he has the same username lol!!!! i went and checked only today.
is it the same skyquake?

 

[skyQuake]

The one and only : )

Anyways, picture perfect on ABY; once it broke the downtrend, everyone jumped on. Gapped up today thanks to the EoD traders before it alll came down lol. Pattern fairly similar to CER which happened a few days ago. Anyone else trading this?