TechnoCap
Life is one hell of a ride
- Joined
- 14 February 2021
- Posts
- 152
- Reactions
- 99
like DEG a couple of weeks agoLooks more serious than a pullback to me.
who knows without a crystal ball
This was my evaluation of the action
like DEG a couple of weeks agoLooks more serious than a pullback to me.
PTSP $1.70 in June 21'Um, from whence the immense enthusiasm? Must be one for the visionaries.
Exploding share issuance, negative ROE, Revenue improving but sales per share not.
H1 FY21 underlying ebitda $0.04m, racing ahead
Monthly Chart: very 'overbought'
I liked who they brought onboard Matt Tripp which lead me initially to enter the trade so fundamental turned technicalSo it's just technical trading, no fundamental reasons?
in relation to what specifically?lol, check out greggles post a page back, Sept 16 2019, 8.4c
like DEG a couple of weeks ago
who knows without a crystal ball
This was my evaluation of the action
bashed to within an inch of it's life over the past two sessionsOuch this got hammered!
Structured such that BetMakers would pay $1 billion cash, and then issue Tabcorp’s current shareholders with BetMakers shares to a value of a further $3 billion (to be determined when a deal was signed).It isn’t easy for a [ ] company trading on a massive multiple to digest a far larger business. And every day’s trading since Friday’s announcement has only made it harder, BetMakers’ own valuation evaporating with the growing number of shares it’ll have to issue to Tabcorp’s shareholders to get the deal over the line.
With BET shares some 28% lower, it would have to issue some 2.3 billion to achieve the same $3 billion transfer.With roughly 1 billion shares on issue, Betmakers in Friday’s release gave the example of it having to issue another 1.8 billion to reach the mooted valuation.
Wow, thanks so much for the response, lots to learn clearly, didn't know about the triangle concept so thats a huge help as well. This is probably one of my stupider questions, but what are the blue boxes representing in your charts? Thanks again for your in detail response, already learnt heaps more then I did earlier today!@BossMan. Well, you picked one heck of a chart to practice on. There is a lot to notice on this chart.
Resistance lines: I agree on the top two and suggest you move the 1.27 line to 1.30. Whole numbers make stronger resistance and there's two highs to support it.
Your comments indicate that you're bullish on BET and perhaps looking for a long trade setup based on the price chart so that you can evaluate the risk:reward. You haven't mentioned whether this trade is a short term (grab some money and exit) or an entry to a medium term trade. I have to address both options.
For a short term trade you can place more emphasis on the shorter term price structures like you have. If you were thinking about buying the BO>1.30 then you may anticipate some resistance at 1.42 and then 1.65. Are these possible rewards large enough for the downside exposure (risk) that you start with? Only you can judge that. If you're considering a iSL at 1.10, that's 0.20 of risk so you need at least 0.30 of possible reward to make it worth your initial risk. There's just enough room if price rallies to your top R level.
If you're considering a medium term trade because you think BET looks good over the next few months then you may choose a slightly wider initial SL (initial risk) because you don't want to sell based on some unexpected price volatility (random up/down movement). Starting a trade with a wider risk means the potential reward has to be much larger as well. Price will have to go much higher than your top R line to make it worth while.
If you're considering a medium term trade you must look at the bigger picture to evaluate what's happening. I use weekly charts for this. The weekly chart show that price has been trading in a large range and is in a smaller range within the larger range. The large range is marked by the high in May and the low in July. The smaller range is marked by the high in Sept and the low in late Sept. Can you see this?
Now, notice that the second high is lower than the first AND the second low is higher than the first. This is an important observation. What appears when we draw sloping lines connecting these two highs and two lows? If you do it correctly you'll see a huge symmetrical triangle. Price is being compressed as the triangle tightens. This is good. Compression will force price to move quickly when it does break out. However, price can break either up or down. Price can also trade sideways and bust the triangle pattern.
It always comes back to a risk: reward scenario. If price break higher from here it could be the start of a much larger rally that easily makes a new all time high. Good for a medium trade and fantastic for a short term trade also (if you can hang it there).
I could go on and on about this chart. It's that good. However we should be looking for chart with fewer possible directions, much higher probability than 50:50 and better R:R potential.
View attachment 132160
Hello and welcome to Aussie Stock Forums!
To gain full access you must register. Registration is free and takes only a few seconds to complete.
Already a member? Log in here.