ERG has flatlined...some TA studies
- Thread starter stockGURU
- Start date
ghotib
THIMKER
- Joined
- 30 July 2004
- Posts
- 1,057
- Reactions
- 88
Re: ERG has flatlined...
Is there any particular reason for it to go UP, aside from general market movement? Last time I looked they were working on some major projects that were not yet delivering revenues. I can't remember estimated completion dates; I've got a vague idea some must be by June but I could be making that up. Anyway, I wouldn't expect much share price movement until those projects start delivering revenues, or else are so late that the company goes bust. We're still holding.
Cheers
Ghoti
Is there any particular reason for it to go UP, aside from general market movement? Last time I looked they were working on some major projects that were not yet delivering revenues. I can't remember estimated completion dates; I've got a vague idea some must be by June but I could be making that up. Anyway, I wouldn't expect much share price movement until those projects start delivering revenues, or else are so late that the company goes bust. We're still holding.
Cheers
Ghoti
Re: ERG has flatlined...
ERG just raised 64m via right issue, the key is cost cutting. All ERG project required heavy initial capital investiment, cash flow will improve when the project is completed. The company is looking good, 2004 they wil be back in black, from here on, it is a ride up.
ERG just raised 64m via right issue, the key is cost cutting. All ERG project required heavy initial capital investiment, cash flow will improve when the project is completed. The company is looking good, 2004 they wil be back in black, from here on, it is a ride up.
- Joined
- 10 July 2004
- Posts
- 2,913
- Reactions
- 3
Re: ERG has flatlined...
Last night's half year report looks pretty positive. A BIG turn around in profitability. Wonder what the 'punters' will make of it..... I've put it on my watchlist for now.
AJ
Last night's half year report looks pretty positive. A BIG turn around in profitability. Wonder what the 'punters' will make of it..... I've put it on my watchlist for now.
AJ
RichKid
PlanYourTrade > TradeYourPlan
- Joined
- 18 June 2004
- Posts
- 3,031
- Reactions
- 5
Re: ERG has flatlined...
ERG has broken out on tremendous volume, above 35c resistance at the moment on good buy depth. Ascending triangle breakout, next stop 45c then resistance at 50c but we'll have to see if it finds support at 35c first, it'll move fast imo if this volume is anything to go by.
A good candidate, I'm thinking of entering, this looks like one that has turned the corner, it appears that people were waiting on the financials before buying in, hence the long period of slow uptrend over the last few months. Any longtime watchers that have confidence in management?
I'll post a chart later.
ERG has broken out on tremendous volume, above 35c resistance at the moment on good buy depth. Ascending triangle breakout, next stop 45c then resistance at 50c but we'll have to see if it finds support at 35c first, it'll move fast imo if this volume is anything to go by.
A good candidate, I'm thinking of entering, this looks like one that has turned the corner, it appears that people were waiting on the financials before buying in, hence the long period of slow uptrend over the last few months. Any longtime watchers that have confidence in management?
I'll post a chart later.
RichKid
PlanYourTrade > TradeYourPlan
- Joined
- 18 June 2004
- Posts
- 3,031
- Reactions
- 5
Re: ERG has flatlined...
A strong finish with 42m+ traded, an all time high for volume. Closing at 36.5c, above what may now be support at 35c. Ask is now 37c, need more buy depth though for this to run straight up.
ERG would have come up on people's scans today so we'll see some more support tomorrow imo. A nice candlestick pattern, I'll post the chart tonight if someone isn't able to before then. Still need to see how it holds over the rest of the week to be sure of breakout, odds are in favour of it.
A strong finish with 42m+ traded, an all time high for volume. Closing at 36.5c, above what may now be support at 35c. Ask is now 37c, need more buy depth though for this to run straight up.
ERG would have come up on people's scans today so we'll see some more support tomorrow imo. A nice candlestick pattern, I'll post the chart tonight if someone isn't able to before then. Still need to see how it holds over the rest of the week to be sure of breakout, odds are in favour of it.
- Joined
- 28 May 2004
- Posts
- 10,827
- Reactions
- 5,145
Re: ERG has flatlined...
Today's turnover looks to be about double the all time volume in fact.
I took a punt today and got set on ERG at 35c. The next few days trade will certainly be interesting. ERG has been in a steady long decline since the dot com days but this return to profitability and the recent New Zealand contract (amongst others) seems to have restored some confidence in it's medium to long term prospects. I saw a lot of frenzied at market buying today, that combined with the abnormally high volume and the recent good results may well be enough to give it some solid momentum in the short term at least.
One to watch over the coming weeks for sure.
RichKid said:
Today's turnover looks to be about double the all time volume in fact.
I took a punt today and got set on ERG at 35c. The next few days trade will certainly be interesting. ERG has been in a steady long decline since the dot com days but this return to profitability and the recent New Zealand contract (amongst others) seems to have restored some confidence in it's medium to long term prospects. I saw a lot of frenzied at market buying today, that combined with the abnormally high volume and the recent good results may well be enough to give it some solid momentum in the short term at least.
One to watch over the coming weeks for sure.
- Joined
- 21 December 2004
- Posts
- 674
- Reactions
- 1
Re: ERG has flatlined...
ERG gets my vote as well although I'm not in it. Looking at the Oscillator, the pressure was building to go up. I came to that conclusion before seeing today's price movement and reading the previous posts.
Hopefully it'll keep skyrocketing up for you all.
:drink:
ERG gets my vote as well although I'm not in it. Looking at the Oscillator, the pressure was building to go up. I came to that conclusion before seeing today's price movement and reading the previous posts.
Hopefully it'll keep skyrocketing up for you all.
:drink:
RichKid
PlanYourTrade > TradeYourPlan
- Joined
- 18 June 2004
- Posts
- 3,031
- Reactions
- 5
Re: ERG has flatlined...
ERG seems to have saved itself, many promising IT co's overstretch themselves, just having a great idea or product or technology wont do it unless you can run the co as a profitable business. They seem to be reigning things in and from the last annct appear to be on the way to net profits. Is it right to say they got a new CEO/Chairman last year?
Too early to call yet for me technically, will also have to do some fundamental research to see if this is worth staying in if the breakout continues.
Anyone know of any broker reports or other reviews of ERG recently?
ERG seems to have saved itself, many promising IT co's overstretch themselves, just having a great idea or product or technology wont do it unless you can run the co as a profitable business. They seem to be reigning things in and from the last annct appear to be on the way to net profits. Is it right to say they got a new CEO/Chairman last year?
Too early to call yet for me technically, will also have to do some fundamental research to see if this is worth staying in if the breakout continues.
Anyone know of any broker reports or other reviews of ERG recently?
RichKid
PlanYourTrade > TradeYourPlan
- Joined
- 18 June 2004
- Posts
- 3,031
- Reactions
- 5
Re: ERG has flatlined...
Charts of ERG, let's see if the TA holds true:
1) 12 mth daily- downtrend broken, base formed, price recovering
2) 6 mth daily- ascending triangle, breakout on huge volume, gap, shaven candle
3) Intraday- break of resistance on volume and close at high on volume
Charts of ERG, let's see if the TA holds true:
1) 12 mth daily- downtrend broken, base formed, price recovering
2) 6 mth daily- ascending triangle, breakout on huge volume, gap, shaven candle
3) Intraday- break of resistance on volume and close at high on volume
Attachments
- Joined
- 10 July 2004
- Posts
- 2,913
- Reactions
- 3
Re: ERG has flatlined...
I'm in at 34c.
Holding on with fingers, toes and eyes x'd!!!
AJ
I'm in at 34c.
Holding on with fingers, toes and eyes x'd!!!
AJ
RichKid
PlanYourTrade > TradeYourPlan
- Joined
- 18 June 2004
- Posts
- 3,031
- Reactions
- 5
Re: ERG has flatlined...
Strong open today, gapped, volume very solid again, I managed to get in at the close yesterday. As Joe observed yesterday there are quite a few at market orders going through, clearly a bit of a frenzy. Vol approaching 6m already and price at 38.5c.
It'll be good to see 20-30m in volume today. Buy depth is good, especially with so many buying at market. Things should settle a bit before long. It'll be interesting to see how it moves in the last hour of trade.
Strong open today, gapped, volume very solid again, I managed to get in at the close yesterday. As Joe observed yesterday there are quite a few at market orders going through, clearly a bit of a frenzy. Vol approaching 6m already and price at 38.5c.
It'll be good to see 20-30m in volume today. Buy depth is good, especially with so many buying at market. Things should settle a bit before long. It'll be interesting to see how it moves in the last hour of trade.
RichKid
PlanYourTrade > TradeYourPlan
- Joined
- 18 June 2004
- Posts
- 3,031
- Reactions
- 5
RichKid
PlanYourTrade > TradeYourPlan
- Joined
- 18 June 2004
- Posts
- 3,031
- Reactions
- 5
Re: ERG has flatlined...
An article on ERG's recent financials, done by a co spin doctor I think. I'm still looking for a more critical evaluation. To my untrained eye it looks like the co has turned around, I like the fact that they're now concentrating on high margin ventures and cost reduction.
As long as the headline profit figure is not a piece of accountaing chicanery it should get better from here on (touchwood). It'll probably take another week or so before the analysts wade through all the recent reports (including ERG) so stay tuned for commentary by brokers. I'll follow the charts till then. http://www.emediawire.com/releases/2005/3/emw213480.htm
An article on ERG's recent financials, done by a co spin doctor I think. I'm still looking for a more critical evaluation. To my untrained eye it looks like the co has turned around, I like the fact that they're now concentrating on high margin ventures and cost reduction.
As long as the headline profit figure is not a piece of accountaing chicanery it should get better from here on (touchwood). It'll probably take another week or so before the analysts wade through all the recent reports (including ERG) so stay tuned for commentary by brokers. I'll follow the charts till then. http://www.emediawire.com/releases/2005/3/emw213480.htm
RichKid
PlanYourTrade > TradeYourPlan
- Joined
- 18 June 2004
- Posts
- 3,031
- Reactions
- 5
Re: ERG has flatlined...
Not a pretty day for ERG, as long as it stays above 35c it'll be ok imo. Today and tomorrow will confirm it as we'll have several bars and some volume trends to look at. Certainly edging towards a weaker than expected breakout, might just consolidate and wait for some news to spark it upwards again, can't blame shareholders for being cautious after the recent sp trend. Let's see how the eod prices go.
Not a pretty day for ERG, as long as it stays above 35c it'll be ok imo. Today and tomorrow will confirm it as we'll have several bars and some volume trends to look at. Certainly edging towards a weaker than expected breakout, might just consolidate and wait for some news to spark it upwards again, can't blame shareholders for being cautious after the recent sp trend. Let's see how the eod prices go.
Re: ERG has flatlined...
I have followed ERG for a few years now and even picked the stock in the monthly comp. a few months ago.Their last new issue basicaly got rid of all their debt plus they have money in the bank.Making a profit is certainly a bonus.I reckon things should steadily improve from now on,particularly in light of contracts maturing over the next 18 months. Regards KOOKA
I have followed ERG for a few years now and even picked the stock in the monthly comp. a few months ago.Their last new issue basicaly got rid of all their debt plus they have money in the bank.Making a profit is certainly a bonus.I reckon things should steadily improve from now on,particularly in light of contracts maturing over the next 18 months. Regards KOOKA
RichKid
PlanYourTrade > TradeYourPlan
- Joined
- 18 June 2004
- Posts
- 3,031
- Reactions
- 5
Re: ERG has flatlined...
ERG intraday for today (Thursday). Nice to see it close at support. Let's hope it stays that way and doesn't change to resistance again. Some new orders came in towards the last two hours of trading to buy at 34.5c and above- let's just call it the smart money for now ; )
My stop is close, market may not notice ERG till next week.
ERG intraday for today (Thursday). Nice to see it close at support. Let's hope it stays that way and doesn't change to resistance again. Some new orders came in towards the last two hours of trading to buy at 34.5c and above- let's just call it the smart money for now ; )
My stop is close, market may not notice ERG till next week.
Attachments
Re: ERG has flatlined...
I inherited this stock wayyyy back when, when it actually held some value. Problem was I couldn't sell, as portfolio control wasn't in my hands....
Does anyone think it would be silly to purchase more ERG at a lower price, to somewhat counter the losses made previously (betting on the fact the price will rise)? Of course I'm not asking for financial advice
just personal opinions on a somewhat hypothetical situation. Would really appreciate any response.
I inherited this stock wayyyy back when, when it actually held some value. Problem was I couldn't sell, as portfolio control wasn't in my hands....
Does anyone think it would be silly to purchase more ERG at a lower price, to somewhat counter the losses made previously (betting on the fact the price will rise)? Of course I'm not asking for financial advice
just personal opinions on a somewhat hypothetical situation. Would really appreciate any response.
RichKid
PlanYourTrade > TradeYourPlan
- Joined
- 18 June 2004
- Posts
- 3,031
- Reactions
- 5
Re: ERG has flatlined...
Hi Taurus,
As you know I can't provide advice (even if it was worth listening to) but I can tell you why I bought as explained above. For TA reasons it appears to be a breakout.
I am waiting for confirmation of 35c as a support level before getting comfortable, I wouldn't be surprised if it falls below 35c before making a convincing break higher as that sometimes occurs with premature breakouts. A number of the bears appear to have been shaken out recently. Last bar is not the best but we'll have to see how it pans out. If ERG truly regains its former stature missing out on a few cents here and there on an uncertain breakout won't mean much. I was in two minds whether to buy on breakout confirmation or at the initial breakout- I chose the latter, higher risk.
Personally, I don't average down. I'd view this entry as a completely new one and consider whether I'd buy in as if I didn't have a holding already. Then there's position sizing and portfolio diversification etc as well but that's something you'll have to consider with a financial adviser and an accountant. Different people have different strategies.
Again, you'll have to make an informed decision by relying on you own research- good luck and keep posting!
Hi Taurus,
As you know I can't provide advice (even if it was worth listening to) but I can tell you why I bought as explained above. For TA reasons it appears to be a breakout.
I am waiting for confirmation of 35c as a support level before getting comfortable, I wouldn't be surprised if it falls below 35c before making a convincing break higher as that sometimes occurs with premature breakouts. A number of the bears appear to have been shaken out recently. Last bar is not the best but we'll have to see how it pans out. If ERG truly regains its former stature missing out on a few cents here and there on an uncertain breakout won't mean much. I was in two minds whether to buy on breakout confirmation or at the initial breakout- I chose the latter, higher risk.
Personally, I don't average down. I'd view this entry as a completely new one and consider whether I'd buy in as if I didn't have a holding already. Then there's position sizing and portfolio diversification etc as well but that's something you'll have to consider with a financial adviser and an accountant. Different people have different strategies.
Again, you'll have to make an informed decision by relying on you own research- good luck and keep posting!
RichKid
PlanYourTrade > TradeYourPlan
- Joined
- 18 June 2004
- Posts
- 3,031
- Reactions
- 5
Re: ERG has flatlined...
A better start today, holding above 35c so far, the EOD intraday chart will tell all.
A better start today, holding above 35c so far, the EOD intraday chart will tell all.
