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Technical analysis - reversal signals

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blinkau

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17 July 2005
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Hi guys, I was wondering if someone could help me out with something simple.

I have been watching the daily chart on a stock and anyway the last two days have been down. The open on the previous day was at the high and the close near the low for the day. Now the latest day (Friday) the open was above yesterdays close there is a fair bit of range downwards and it closed above yesterdays close but below todays open. I was wondering what kind of reversal signal is that? I know the basic ones like pivot points, open/close and key reversal but cant figure that one out. I cant find any helpful technical sites on the stuff so any help would be great
 

Stock code?
 
Hi blink

Which stock ... I'll post a chart with what I'd do with it ... this might help
 
Any one help me out just wondering if this one has a postive uptrend coming, Is that a hammer head reversal candle on the 13th 14th ? if not what should it look like, Volume has increased over last couple of months. Help and info appreciated in advance Cheers stock code BNT
 
on 13th its dragon fly doji and on 14th its red candle. In my opinion (and i am not expert) signal are not so reliable to believe trend has changed. good to have in watch list though.


 
Perhaps you're all looking too short term on this.

Notice anything on the chart posted up?
Its BNT(WEEKLY) had to crop it to fit.

There are 4 things of interest.
 

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It actually looks as tho it might be worth a few ticks come next week. Has bottomed (reaching historical lows )with a 3 way correction and sellers have just about dried up as volume has dropped away. Last few ann have been accounted for although somewhat bittersweet. Very early to call a trend reversal but worth watching.
 

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Hi Big

Sorry mate .... don't know where you bought or your risk process.

I've had a look at the chart and I'm convinced it has little going for it as a long position.

The opportunity cost of having capital tied up in this one is between 20 - 30% pa ... and that's just measured against the index.
 

Dear constable,

Its not bottoming. Its in a massive downtrend, lower highs, lower lows, its broken through its last support at 15, a bottom is a bottom., means its moving sideways and has shown some effort at rising. Don't go on volume in a situation like this. This is not a bottom. Its a bloody disaster. Its also not a correction. It has not corrected.

Garpal
 
Bet you a slab it will finish next week higher!
 

bought at .15 and intended for a long termer couple o years min CHEERS
 
I think volume is partially relevant here...7 of the last 10 weeks have exhibited above average volume and it forced price to fall through the support level at 16 cents (also the 61.8% retr. of the all-time-high, a rather significant level). And it has kept on falling. The only thing that stopped it was the VERY signficant support level at 11 cents, aka, the all-time-low.

The reversal patterns might be there, but the trend ain't changed. I'm with Garpal ie. disaster. Long it at your own risk.
 
Heres another im looking to purchase for a long termer Mission biofuels asx:MBT
Plant will be operational at full capacity in mid august, Plant in malaysia has pioneer tax status, Palm olein lowest cost feedstock, and looking to grow jatropha as alternative lower cost feedstock, 5 year supply contract biodiesel. Lots of positives from latest market update, but what does its chart say CHEERS
 
The trajectory of MBT is also down.

The reasons you describe for being interested in the stock probably fall under the banner of "fundamentals". That is the advantage of being very good at fundamental analysis, you can see into a company or a market that the herd hasn't yet realised upon and buy it for a discount. Alas, if your timing is wrong (as it might be with both of the shares mentioned in this thread) you may have to hold with steely resolve through lower prices yet.

This the power of technical combined with fundamental analysis. One gives the time and the other the place.
 

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Hell ASX I thought for a minute you were coming over to the darkside with the Constable and I.

This is a typical bottom pickers trade---but he just may have lucked out if he knows how to play it.

Its low risk only 2.5c and you know your wrong! Anyway thats what I would do if I had it.I think R/R is better long than short.
Wont be a fast move 18c+ isnt out of the question better to take the play from the analysis below than when it was around 25c---Unless it gets delisted
in the near future!

Its a shocker of a trade but---

MBT---your not here for the trading--right!
 

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So far ive bought EDE at 22c LYC at 32c and doin OK CHEERS Happy Trading on the Morro. Thanks For input from all. (Hey i think I just came up with a new Chinese proverb, Many Minds make different views, similar to many hands make light work.)
 
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