ERG - ERG Limited
- Thread starter ghotib
- Start date
-
- Tags
- erg erg limited
yeah I topped up a couple of days ago when they first hit 25 again.
ERG is starting to frustrate me a little, all the indicators seem to be pointing the right way, all except the most important one - PRICE!!
Anyway, my completely factless hypothesis is that Westpac may be somehow involved with facilitating the merger and have decided to top up themselves to take advantage.
But like I said, this is just a hope and has no factual grounding whatsoever
ERG is starting to frustrate me a little, all the indicators seem to be pointing the right way, all except the most important one - PRICE!!
Anyway, my completely factless hypothesis is that Westpac may be somehow involved with facilitating the merger and have decided to top up themselves to take advantage.
But like I said, this is just a hope and has no factual grounding whatsoever
Buda said:
Hi Buda,
I think that on a long enough time line, all gaps will be filled eventually for any stock, its just a matter of course.
Regarding the chart, the MACD histogram keeps teasing us by approaching zero and then taking a step back, I'll feel much better once this hits positive territory. I also watch the 14 day RSI and this is rapidly approaching the oversold zone with each 0.5-1 cent drop.
Regarding the overall trend, the share price keeps respecting the underlying trend line that I have on my chart and if your a user of the GMMA, you can see that the long term averages are well spread apart and robust, signifying a very strong underlying up-trend. I think that the pennant that has formed over the last 2 weeks in October will hopefully give a target of 0.36 before more consolidation.
These are just my thoughts on ERG and whats been keeping me in the stock for the past month and not taking my money out and utilising it elsewhere. I only like to hold a position for a 5 weeks max and I'll be hitting that with ERG next week.
But anyways, good luck to us all
Disclaimer: As always, the above is not to be considered as any sort of advice or recommendation and if you take them to be such, you are a clown
- Joined
- 14 October 2006
- Posts
- 26
- Reactions
- 0
I'm no techie but by the fundamentals I can't see this one going anywhere anytime soon.
Management have given some bullish statements and that has pushed the price up. They've got about $180m in receivables that management says are due on to be paid on milestones related to their troblesome major projects over the next 1-2 years.
If they don't deliver the market will be merciless... There is plenty of upside if they do though
Management have given some bullish statements and that has pushed the price up. They've got about $180m in receivables that management says are due on to be paid on milestones related to their troblesome major projects over the next 1-2 years.
If they don't deliver the market will be merciless... There is plenty of upside if they do though
Just observing ERG...if it holds at 0.27 it would be good time to get in. Just touching the trendline in my charts. If it holds or signs a small strength from jumping of it, it would be good time to enter. My only concern is overall market. If it goes down a bit ERG will cross the trend. SO far the trendline was respected as holy grail.
Any thoughts?
Greg
Any thoughts?
Greg
Greg it looks like it needs to consolidate a little before it makes its next move. ERG has started it trend late august and has been trending for last 3 months, it has caught the eyes of BT Investment Group taking a 60 mil share holding, others may follow suit, good news follows good news.
