AAX - Ausenco Limited

russia2 · 13 July 2010

5th consecutive day of going up. Lucky I bought some more at 1.80.

A bit of short covering going on. A total of 3,640,276 shares were short sold as at 5/7. Worth keeping an eye on.

http://www.asic.gov.au/shortsell/shortsellreports.nsf/vwPublishedReportsAndPlaceHoldersByKey/PDF~DAILY~20100705/$file/Daily+Short+Positions_en-au.pdf

5min · 13 July 2010

Purely looking at charts, it'll hit its short term high between 2.3 & 2.5. It may break through IF index goes up steadily throughout the US earning season and that MAY turn the trend.

hmmm · 17 July 2010

Seems to be holding flat across $2.12-2.16 nice gains since recent lows of $1.71. I wonder how much longr it will continue its gains?

russia2 · 17 July 2010

hmmm said:
Seems to be holding flat across $2.12-2.16 nice gains since recent lows of $1.71. I wonder how much longr it will continue its gains?

Hopefullly forever hmmm. As you may know I am a large believer (and stockholder in Ausencos future.

hmmm · 18 July 2010

russia2 said:
Hopefullly forever hmmm. As you may know I am a large believer (and stockholder in Ausencos future.

Yes! I believe that Ausenco has a strong future ahead of it and is well positioned. It has been battered pretty hard lately though. hopefully this is a sign of a turnaround. Shareholder too...

russia2 · 19 July 2010

Australian engineering and project management group Ausenco Ltd (ASX:AAX) has won a contract to provide works for Canadian miner Taseko Mines Ltd.

The C$814 million (US$772.5 million) contract is to provide engineering design and procurement services for Taseko's Prosperity gold-copper project in British Columbia.

Ausenco chief executive Zimi Meka said the work initially would involve managing the first stage of the engineering and procurement phase of the project, and would ramp up as Taseko's key project milestones were reached.

http://www.tradingmarkets.com/news/...772-5mln-canadian-works-contract-1048691.html

AAX is down today

5min · 19 July 2010

russia2 said:
Australian engineering and project management group Ausenco Ltd (ASX:AAX) has won a contract to provide works for Canadian miner Taseko Mines Ltd.

The C$814 million (US$772.5 million) contract is to provide engineering design and procurement services for Taseko's Prosperity gold-copper project in British Columbia.

Ausenco chief executive Zimi Meka said the work initially would involve managing the first stage of the engineering and procurement phase of the project, and would ramp up as Taseko's key project milestones were reached.

AAX is down today

It's just technical trading. There are traders (or bots??) who react to news with a bit of lag.

I'm not sure whether your quote above was misleading or the announcement on ASX is which I first read and thought the project budget is C$814 million, not the fees to be paid to AAX.

russia2 · 21 July 2010

Engineering firm Ausenco Ltd has won a $32 million contract to provide design services to upgrade a processing plant owned by gold producer Newcrest Mining Ltd.

The processing plant upgrade is at Newcrest's $1.9 billion Cadia East Project near Orange in NSW, Brisbane-based Ausenco said in a statement.

http://www.businessspectator.com.au...o-wins-32m-design-contract-7K5R9?OpenDocument

Another porject won by ausenco. Still baffled at why the share price has not reflected their current achievements.

pixel · 21 July 2010

russia2 said:
Engineering firm Ausenco Ltd has won a $32 million contract to provide design services to upgrade a processing plant owned by gold producer Newcrest Mining Ltd.

The processing plant upgrade is at Newcrest's $1.9 billion Cadia East Project near Orange in NSW, Brisbane-based Ausenco said in a statement.

http://www.businessspectator.com.au...o-wins-32m-design-contract-7K5R9?OpenDocument

Another porject won by ausenco. Still baffled at why the share price has not reflected their current achievements.

It may be puzzling why AAX isn't picking up speed, especially when we look at price levels two years ago. But when I zoom in to a Daily chart, I find it's actually not so gloomy. Sure, the volume could be better, but remember that the "Super Profits Tax" debate has poured cold water on everything to do with mining. Julia may try to defuse the issue, but once out of the bottle, she'll never get the genie back in: There will always remain that nagging question "what if THEY change their mind and slap some new extra charge on it?"

Technically, the chart doesn't look too bad - once resistance at $2.16 is breaking with volume, I'll buy back in. So far, it's been only brief "quickies", sniping 10 or 15c here and there.

5min · 22 July 2010

pixel said:
It may be puzzling why AAX isn't picking up speed, especially when we look at price levels two years ago. But when I zoom in to a Daily chart, I find it's actually not so gloomy. Sure, the volume could be better, but remember that the "Super Profits Tax" debate has poured cold water on everything to do with mining. Julia may try to defuse the issue, but once out of the bottle, she'll never get the genie back in: There will always remain that nagging question "what if THEY change their mind and slap some new extra charge on it?"

Technically, the chart doesn't look too bad - once resistance at $2.16 is breaking with volume, I'll buy back in. So far, it's been only brief "quickies", sniping 10 or 15c here and there.

View attachment 38001

I'd agree with above except I'd wait for break $2.3 before getting back in. The super tax was hurting this type of companies in particular where the miners just cancels projects when they do the CBA analysis against hurdle rate.

russia2 · 22 July 2010

5min said:
I'd agree with above except I'd wait for break $2.3 before getting back in. The super tax was hurting this type of companies in particular where the miners just cancels projects when they do the CBA analysis against hurdle rate.

Finally traders have responded to the recent contract wins up 12c 5.7%. Almost at your $2.3 target 5min

5min · 22 July 2010

russia2 said:
Finally traders have responded to the recent contract wins up 12c 5.7%. Almost at your $2.3 target 5min

Yes, tomorrow and Monday will be critical (on a technical sense). Need to be see a bit more volume. I originally thought it was gonna have another dive before rising, maybe not.

pixel · 22 July 2010

5min said:
Yes, tomorrow and Monday will be critical (on a technical sense). Need to be see a bit more volume. I originally thought it was gonna have another dive before rising, maybe not.

Today's volume was pretty much in line with what I'd expect to support a breakout. Price had bounced off initial resistance ($2.16, four days running) down to 61.8% Fibonacci, creating a Higher (than that 0%) Low, and is now guaranteeing a Higher High after breaking above 2.16.
In short: Higher Low followed by Higher High defined a Bullish trend change.

hmmm · 23 July 2010

5min said:
Yes, tomorrow and Monday will be critical (on a technical sense). Need to be see a bit more volume. I originally thought it was gonna have another dive before rising, maybe not.

Me too! i exited at $2.12 recently expecting a sub $2.00 dip to buy back in, was away and didn't get to see the low $2.XX, not sure i would've bought though.

pixel · 23 July 2010

Today's gap-up can mean one of two things:
resistance at Fibonacci 161.8% will lead to a retracement that re-tests the breakout level at $2.16,
or
continuation of a strengthening breakout towards $2.80 or even $3.02.

At the moment (lunchtime) the relatively strong volume might suggest the latter.

johannlo · 23 July 2010

you said it brother, volume is king (barring dow collapse tonight which looking unlikely according to futures).

pixel · 23 July 2010

well, the advance stalled just a cent above my target - too close for comfort to hold over the weekend. Volume is good, but that doesn't mean the gap that it left this morning will be left open.
I sold at $2.42. Back next week...

5min · 27 July 2010

pixel said:
well, the advance stalled just a cent above my target - too close for comfort to hold over the weekend. Volume is good, but that doesn't mean the gap that it left this morning will be left open.
I sold at $2.42. Back next week...

Still low vol for now, but turned -ve for the 1st day in a while. Still need to see a bit more volume either way...

It's Snake Pliskin · 31 July 2010

There has been a lot of volume between the levels of 2.00 and 2.50. Surely that is interest and supply / profit takers? Jumping the break level would be nice to see happen to confirm the bullishness and step up to the next level of supply.

pixel · 1 August 2010

It's Snake Pliskin said:
There has been a lot of volume between the levels of 2.00 and 2.50. Surely that is interest and supply / profit takers? Jumping the break level would be nice to see happen to confirm the bullishness and step up to the next level of supply.

Not sure if there is much profit to be taken yet, but I agree the volume indicates a healthy interest in this stock. There seems to be an ascending triangle forming; not far to go: If $2.48 breaks on above-average volume, I'll be back on board.

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