Potential Trend Reversals
- Thread starter dj_420
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Not sure that my thoughts are all that useful, but anyway, here we go with the chart.
It could be a great bottom pick...BUT...personally I'd want to see the black line stay up there for a while, rather like the INL chart on the previous page, before I believed it as anything other than a transient spike. Yes, I certainly do use other indicators before buying, especially volume and price; I use them first and then check the SMA chart, and then search ASF for comment and then if any doubts remain I consult the candles. At this point with GDN I would simply say that the SMA chart suggests we should watch the stock closely for other signs of a reversal.
It could be a great bottom pick...BUT...personally I'd want to see the black line stay up there for a while, rather like the INL chart on the previous page, before I believed it as anything other than a transient spike. Yes, I certainly do use other indicators before buying, especially volume and price; I use them first and then check the SMA chart, and then search ASF for comment and then if any doubts remain I consult the candles. At this point with GDN I would simply say that the SMA chart suggests we should watch the stock closely for other signs of a reversal.
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Tech stock BLG is an old favourite of mine that fell by the wayside after hitting 90 odd cents a few months ago, and has been falling miserably ever since. However today I bought back in suspecting BLG had finally bottomed out and was about to climb back, hopefully with a bounce.
Sure enough, tonight's SMA chart gives some weight to my suspicions. This is definitely a potential bottom pick trend reversal. But time will tell of course, DYOR and check out the BLG thread for more info.
Sure enough, tonight's SMA chart gives some weight to my suspicions. This is definitely a potential bottom pick trend reversal. But time will tell of course, DYOR and check out the BLG thread for more info.
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Trend Reversals.
I have an interest in PSA, as I believe the downward trend has finished.
I first spotted the brakes being put on PSA when they traded their highest ever volume and the price was up 15% in a day.
Its been going sideways for some time, but it's looking at breaking $1.60
I hold as I think we have hit bottom in a favoured sector which is the oil and gas sector.
I have an interest in PSA, as I believe the downward trend has finished.
I first spotted the brakes being put on PSA when they traded their highest ever volume and the price was up 15% in a day.
Its been going sideways for some time, but it's looking at breaking $1.60
I hold as I think we have hit bottom in a favoured sector which is the oil and gas sector.
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Why? More detail needed.
This was due to an announcement. PSA was subsequently sold off again and has been trading sideways ever since.
Ken why do you think PSA has hit bottom? It would be nice if you could identify some support levels, volume analysis or provide some other details/analysis to support your view. Perhaps you could discuss their prospects in terms of fundamentals. Saying a stock has hit bottom is one thing, presenting a convincing case for it is another.
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Petsec Energy - PSA
Broker Tolhurst issued BUY recommedation with target $ 2.90
IMHO yesterday's ann proved that PSA is moving forward fundamentally compared to its March result.
SP has recently hit bottom and has been trending upwards in the last couple of weeks.
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extract from tolhurst:
Valuation and Recommendation
We value Petsec shares at $2.90 based on a sum of parts approach. Our
discounted cash flow analysis of the GoM natural gas assets yields $2.18 a
share, while the GoM oil assets and China assets are valued at $0.39 and
$0.33 respectively (unit based valuation approach). Our valuation attributes
no value to the Moonshine project given the very early stages of exploration
work there – we consider potential upside in case of exploration success a
free option with Petsec shares.
At current levels the shares trade at a 50% discount to our valuation and we
are therefore recommending to BUY Petsec shares for both the short term
(up to 12 months) and long term (over 12 months) investors.
Over the past year Petsec’s shares suffered decline driven in part by some
operational disappointments and in part by general sentiment towards the
sector. We believe there is no fundamental reason to justify the magnitude of
this price decline and see current share price levels as an outstanding
opportunity to gain exposure to a profitable company with a significant
growth pipeline.
DYOR - as always
Broker Tolhurst issued BUY recommedation with target $ 2.90
IMHO yesterday's ann proved that PSA is moving forward fundamentally compared to its March result.
SP has recently hit bottom and has been trending upwards in the last couple of weeks.
------------------------
extract from tolhurst:
Valuation and Recommendation
We value Petsec shares at $2.90 based on a sum of parts approach. Our
discounted cash flow analysis of the GoM natural gas assets yields $2.18 a
share, while the GoM oil assets and China assets are valued at $0.39 and
$0.33 respectively (unit based valuation approach). Our valuation attributes
no value to the Moonshine project given the very early stages of exploration
work there – we consider potential upside in case of exploration success a
free option with Petsec shares.
At current levels the shares trade at a 50% discount to our valuation and we
are therefore recommending to BUY Petsec shares for both the short term
(up to 12 months) and long term (over 12 months) investors.
Over the past year Petsec’s shares suffered decline driven in part by some
operational disappointments and in part by general sentiment towards the
sector. We believe there is no fundamental reason to justify the magnitude of
this price decline and see current share price levels as an outstanding
opportunity to gain exposure to a profitable company with a significant
growth pipeline.
DYOR - as always
GDN is looking more like it may be in the early stages of a trend reversal.
GDN is up around 40-70% on volume this morning with no news. Thats gotta be significant?
But note the last spike in the SMA chart a few weeks ago, discussed earlier in this thread. Perhaps this rush of smart buyers picked up all they wanted in the recent correction? This would imply that they knew something and just got really lucky with the correction. If so, this means that with news (or even just a rumour of news) the SP could rocket back up to where it was before (or higher) and be a multi-bagger.
Whatever, its gotta be worth watching. DYOR.
I'm in!
GDN is up around 40-70% on volume this morning with no news. Thats gotta be significant?
But note the last spike in the SMA chart a few weeks ago, discussed earlier in this thread. Perhaps this rush of smart buyers picked up all they wanted in the recent correction? This would imply that they knew something and just got really lucky with the correction. If so, this means that with news (or even just a rumour of news) the SP could rocket back up to where it was before (or higher) and be a multi-bagger.
Whatever, its gotta be worth watching. DYOR.
I'm in!
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INL seems to be a favourite stock on ASF, its only problem being that its SP keeps going down. I'm posting this up (again) as a potential reversal because the Neilson SMA chart has given positive signals about INL for some time, and I suspect that it was only the general drop across the market over the last month that stalled INL's reversal back in July. Note that the blue line is now showing positive pressure, and remember that when the blue line rises above the black line (smart buying pressure) that there is usually a corresponding spike in price.
Today's 12-12.5c looks like a real buying opportunity. DYOR.
Today's 12-12.5c looks like a real buying opportunity. DYOR.
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doogie_goes_off
disbelieve if you can
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doogie_goes_off
disbelieve if you can
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CVN probably should turn for real, supply @ 43c today seemed to be getting eaten up quickly, Im looking at a 54c target, it has been cheap buying in recent weeks. We may need two annoucements to see this target as there is a 'shoulder' at 50c although weaker than that at 55c, any push through 55c could see a breakout. I'm very happy to hold at the moment.
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Gday Al,
Look what I dug up! Was the last post really 11years ago?
Anyhoo, I figure I will play it safe and post here as I have been more miss than hit lately....
Fell off the horse, proper dusting off in the woolshed etc, definitely not a roll in the hay, profits seem to be like a needle in the haystack. Haha
But, I have been looking at MLL , Mali Lithium ( & Gold) as a potential trend reversal candidate.
With recent lithium mine approval and higher revenues from their gold assets together with interest from MinMetals (Chinese lithium batteries experience) and a potential ramp up of gold production to capitalise on current Au prices, this might be of interest at around $ 0.078 per share.
Please do your own research.
I hold, riding a loss.
PS; the wife and kids are getting hungry as time's are tough...
Have you been there?
Look what I dug up! Was the last post really 11years ago?
Anyhoo, I figure I will play it safe and post here as I have been more miss than hit lately....
Fell off the horse, proper dusting off in the woolshed etc, definitely not a roll in the hay, profits seem to be like a needle in the haystack. Haha
But, I have been looking at MLL , Mali Lithium ( & Gold) as a potential trend reversal candidate.
With recent lithium mine approval and higher revenues from their gold assets together with interest from MinMetals (Chinese lithium batteries experience) and a potential ramp up of gold production to capitalise on current Au prices, this might be of interest at around $ 0.078 per share.
Please do your own research.
I hold, riding a loss.
PS; the wife and kids are getting hungry as time's are tough...
Have you been there?
