Chartists

[Ken]

I am not going to tell you what this chart is.

But I want some opinions.

It looks like this year it has been over bought and over sold. For 3 years it wiggled its way up in a trading range and never appeared to go outside the train tracks.

It was over bought and over sold. Where to from here. Has the trend been broken? Or will the upward 3 year trend stay intact as long as it does drop below the blue line, that being the $7.50 mark.

 

[Ken]

Re: chartist

chart

 

[wayneL]

Re: chartist

chart

Where?

 

[Ken]

Re: chartist

try again

 

[tech/a]

Why the secrecy?
If I had the code I/WE could analyse it properly

 

[theasxgorilla]

Since the all-time-high, so far, lower low, lower high...several examples of no buying support above $8.20. Feb to Aug 07 looks like an upward slopping consolidation...if you were putting a wave count on it you might pic that as a Wave B or a Wave 2. Not knowing the instrument but knowing what most global markets are doing now I'd lean toward a Wave B and that means in all likelihood a Wave C is going below Wave B's starting point. The actually support/resistance zone is more like $7.75-$7.60...price is in there at the moment...close below $7.60 and I'd expect a fall to $7.20 where the next support/zone appears to be.

 

[Ken]

Its code is ARG.

I am waiting for the NTA to be released to see how badly hit the companies underlying assets have been hit.

I know they have a heap of cash on the side lines waiting to invest.


I figured the chart would tell the story, but yeah its ARG.

Argo Investments. It had an intraday low of $7.30 last Thursday.

 

[theasxgorilla]

Why the secrecy?
If I had the code I/WE could analyse it properly

Why? Try doing so without...don't let perception biases creep in...its THE perfect way to ignore the news...sometimes you think you're ignoring the news or the story behind a company but you're not, you're actually trying too hard to ignore it and hence you're still affected by it!

 

[GreatPig]

And why bother asking when a quick scan in AmiBroker can find it in a few seconds

GP

 

[Ken]

lol,

That was my thinking.

Some people dont buy stocks because of the company, Its pretty obvious ARG has never really been an exciting stock. The movements are pretty small, just ticks up and down, up and down.


Its an LIC so its probably one of the easiest stocks to value, they dont sell their shares and its basically a top 20 fund.

But chartwise it always interesting to see what people think.

 

[tech/a]

Wont bother then.

 

[GreatPig]

I had it for a bit over a year starting in early 2005 and it did okay then, with a 23% gain plus another 5.8% in dividends.

Sorry Tech, that didn't come across quite the way I meant it.

Cheers,
GP

 

[IFocus]

The Basics

Weekly shows primary uptrend still intact but volatility increasing along with volume is this a top forming?

Daily shows side ways move after spike to over $9, sellers below $9 buyers above $7.50ish. Shorter daily uptrend broken to the down side may find resistance around current levels.

The over hang from the run up to $9.15ish may take some time to work its way out if price is to continue upwards.

Focus