BIL (Brambles) - To Enter not to Enter (T/A entry)

[still_in_school]

Hi Guys,

just scanning the market at the moment, looking for some decent trades (with today's market being really choppy, and a nice pullback to 3897k (lets see if this market can close and hold above 3900k)

though, with todays pullback, and if the market can recover tomorrow...

the technical anaysis on BIL is looking like an ideal trade... that will soon again channel....

anyway heres a chart of BIL... but with todays market pullback, could the market fall, further more tomorrow...

Cheers,
sis

 

[still_in_school]

Medium Term Charting

 

[still_in_school]

Short Term, Technical Entry

 

[shaun]

Hi SIS
just had a chat with a broker friend of mine,
apparently if the pullback gets to 3987 (where alot of his clients are waiting for) then the market will drop, i think everyone is in a wait and see pattern at the moment until the U.S market opens.
i've only just started learning options etc, so my understanding of all this is limited.
cheers mate
shaun

 

[still_in_school]

Hi Shaun,

your broker could be right... i just watched the XJO come further south down to 3892.2k, right now, just now tighting positions, but also have been selling off most of my portfolio, in the last couple days and been having a bit of breather...

though right now, watching the intraday data, BIL (brambles has just come down to $6.77, has bounced back to $6.80... though still to early for me to enter... need more bullihness or bearishness, in knowing the direction of the trade...

Cheers,
sis

 

[shaun]

i've been watching my shares cop a flogging today (only 15k worth all up),
thank goodness they are still up from when i bought them 4 months ago.
i will have to look at the us market tonight and see what happens, it may be time to sell off and wait.
cheers mate

shaun

 

[wayneL]

Just a point on support:

Support isn't support unless there is support.

In other words, in this chart 6.83 is a swing point, but it is only potential support. You would need to see buying from that level at least twice to qualify it as support.

The worry here is that we have a lower high in place and a pretty damned good downsloping trendline.

The retracement from the the Nov 10 high and the Nov 22 low is exactly 50%, suggesting a measured move/fib extension target of around 640-655.

All of which means absolutely nothing really.

The close above 6.83 is encouraging if you'r looking for a buy though.

 

[still_in_school]

Hi Waynel,

thanks for the chart...

long story short.. Brambles, closed today at $6.81... very little upside momentum... (pretty much the same as the Resource Sector, taking, bit of beating)

Cheers,
sis

 

[RichKid]

Been watching news of this in the newspapers. Checked the chart out, very bearish as it's broken a trendline and is now falling towards a lower trendline someway below. Two down days on volume after gapping down through support. Seems to be the common story for quite a few stocks of late.