Welcome to ASF, now to the hard part! Buying your first shares based on a hot tip from Hubbie's mate at work is about as clever as betting on red at the casino.Thanks - appreciate any advice if you have the time.
So, frustratingly I dumped a while ago when price drifted down again. Took a small loss.
Keen to learn why milk, (or in this case, baby formula) stocks are headed downhill, I did some research and found that 2020 resulted in being the lowest birthing year for a long time in China.
I imagine it may be similar elsewhere and I surmise this will probably continue into 2021 somewhat, given baking periods of 9 months.
Had heard previously that there much lower cases of premature birthrates also, but that is uncorrelated to this. That was a result of lockdowns and healthier living etc
I note other milk stocks such as SM1 and A2M are showing similar downhill heading charts, however I will be keeping a lazy eye on them.
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@loverat
You may be interested in reading up on related stocks, such as;
SM1 (Sylait Milk)
BUB (Bubs)
Posted this in Bubs thread recently.
As for a broker, I can recommend Selfwealth (as a reputable business) as I use them myself for $9.50 fee per trade of ANY value, and the shares are owned by you, not the broker.
We don't provide advice here on ASF, but for what it's worth, I have considered starting a thread recently based on the milk stocks being at price lows.
Maybe others can post their opinions on where we are at regarding the "sitch" overall on milk stocks.
A2M has been a bit of a market darling recently historically.
Good luck in whatever you decide to do, and remember, none of this is advice.
Cheers.
Starting to get interested again, been 2 years.Very interesting day today for A2M. Strong demand.
Mate @Dona Ferentes
wasn't me, your Honour. It was @Knobby what said "interesting".Mate @Dona Ferentes
Could you please elaborate the 'interesting' word ? A2 has been going to uninterrupted south and not long ago, almost every expert treated A2 to be a future.
It is going to the level I started in the past and sold after it reached $4. But that was a different time.
Thanks in advance
Thanks Pete @peter2 for quoting Wordsworth ?.In my defence your honour, the word "interesting" is a purposely noncommittal adjective when applied to a trade opportunity. Just as "beauty is in the eye of the beholder", "one man's trash is another's treasure".
The "three gaps down" observation posted by @Dona Ferentes many weeks ago is a strong canine indicator. Woof, A2M is a dog.
I drew the support line at 7.70 and when price bounced off it, I thought it "interesting". I needed to see a higher low for a setup but price kept going down and down. Now that it's below the support line, I'll let this sleeping dog lie.
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I would want a positive financial update from the company before I would look at this business.Thanks Pete @peter2 for quoting Wordsworth ?.
All good and rich context - letting sleeping dog die without letting RSPCA knows about it.
On a serious note, thanks a lot for delivering the message on A2 as a hot potato.
on the strength of today's Ann, this wasn't it!! Sold down to under $6 for a whileI would want a positive financial update from the company before I would look at this business.
Miner, I think Bell Potter are ridiculously bullish for a cyclical agricultural commodity business like A2M, despite its stonk status, one day value and price will coincide and a lot of capital will go up in smoke IMO. Hopefully I am wrong for the sake of current speculators.
Definition of an optimist. Thinking that this daily reversal pattern (123 Low) is the start of a trend reversal in A2M.
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