ZFX - Zinifex Limited

[Halba]

I exited today @ 16.50. Too much resistance on M/D. 31% on call option.

Decided to persist with this long trade, possibly due to spinoff creating some more additional value, and zinc stockpiles declining(slowly). Some favourable data came in saying that western world demand for zinc is high (despite Chinese exporting a fair bit)

Maybe someone a bit more patient can eek out a few more % here. Sometimes a few % is worth it. $17 is a tough call as I agree a lot of resistance. All dependent on zinc price fluctuations this stock.

 

[Out Too Soon]

As everyone's being open, I've had a sell order on ZFX @ $16.79 for ages but I've just cancelled it. Not sure if I've done the right thing of course & the amount of rise over the last week has been quite a surprise, now I'm not sure where to peg my sell order.
The charts posted are all appreciated but,
Kennas! mate , buddy, , could you please give us a Kennas chart please, you're still allowed to as a moderator aren't you?

 

[Sean K]

OK OTS...

As mentioned above, on 6 month daily, lots of resistance at $16.50 ish. Perhaps more like $16.60-$17.00. Unfortunately, a double whammy with the downtrend resistance line also colliding with this horizontal resistance. Interesting though is that the indicators are looking OK to bullish at the moment. Could possibly be just starting to turn around with MACD, Stochs and RSI just starting to turn up, or already pointing up, on both charts. I wouldn't start counting chickens until it beats 17. For a start it needs to make a higher high, which maybe it has through 16.....

pe 7.5!

 

[vishalt]

I have faith in Zinifex fundametally, but am gonna pull out just to ease up for May though.. and hopefully get better prices to enter at.

 

[AnalysisParalysis]

Playing devil's advocate here. One other possible, however unlikely, outcome is the current "retracement" continuing along the downtrend line. Just thought I'd post it for an alternative view.

 

[AnalysisParalysis]

And here's the chart, seeing as I forgot to post it in the last message. 100 characters means that our posts have to really be of high quality.

 

[rederob]

And here's the chart, seeing as I forgot to post it in the last message. 100 characters means that our posts have to really be of high quality.

AP
If you are going to be the devil's advocate, be clever little devil and use a semi-log (not a linear) chart for the time frame indicated.
You might be surprised!

 

[toothfairy]

As long as the earth is still turning & shares are still trading, there will be endless arguments about technicals vs fundamentals. Why don't we all agree that they both have effect on shares. The lesson to learn is some shares are dependent (or affected) more by one than the other. I would say in my experience ZFX is 80% governed by fundamentals like POZ, deals, explorations, PE, news, rumours etc. It is going up now because the fundamentals are appearing positive again, that's all. Simple, U like it, U buy it. You want to play TA, try NAB or TLS (their fundamentals stay the same for years! For TLS, read bad.) Only technicals move them.

Just my thought, please disagree. Cheers.

 

[AnalysisParalysis]

AP
If you are going to be the devil's advocate, be clever little devil and use a semi-log (not a linear) chart for the time frame indicated.
You might be surprised!

Ok I tried that, and see how it removed that radical price dip.

I've never seen that before. Could you elaborate on it's uses, thanks.

 

[Kipp]

And here's the chart, seeing as I forgot to post it in the last message. 100 characters means that our posts have to really be of high quality.

AP- not sure that I'd agree with your support line there- it doesn't even touch any of the lows formed in ZFXs uptrend over the past 12 months. If you drew if so that it actually DID graze them ou would see that long term suppor was~$15, not 12 as youve indiciated.

 

[Kipp]

Yep- about $15... in my opinion. Which is roughly were it found support (got to $15.15 on April 4). Interesting to see that ZFX didn't break out end of Feb when if broke resistence, but I suppose because it co-incided with the general shake up of the market at the time... not too many breakouts around then.

Also- nice to see the LME Zn below 100K again.

 

[Kauri]

Looks interesting again, especially the recent volume coupled with the short term horizontal resistance she is butting up agin.

 

[AnalysisParalysis]

AP- not sure that I'd agree with your support line there- it doesn't even touch any of the lows formed in ZFXs uptrend over the past 12 months. If you drew if so that it actually DID graze them ou would see that long term suppor was~$15, not 12 as youve indiciated.

Sorry Kipp,

One of those posts I wish I hadn't done, but can't do anything about now. On the previous page you'll see the first one I posted, which is probably closer to reality.

Thanks.

 

[Kauri]

Looks interesting again, especially the recent volume coupled with the short term horizontal resistance she is butting up agin.

Have moved stop up to the break even point after she broke through the short term horizontal resistance, looking initially for around $18 odd, jury is still out on whether this is start of new upleg or still in the correction.

 

[Punter]

As long as the earth is still turning & shares are still trading, there will be endless arguments about technicals vs fundamentals. Why don't we all agree that they both have effect on shares. The lesson to learn is some shares are dependent (or affected) more by one than the other. I would say in my experience ZFX is 80% governed by fundamentals like POZ, deals, explorations, PE, news, rumours etc. It is going up now because the fundamentals are appearing positive again, that's all. Simple, U like it, U buy it. You want to play TA, try NAB or TLS (their fundamentals stay the same for years! For TLS, read bad.) Only technicals move them.

Just my thought, please disagree. Cheers.

nice post. just go for the gamble. stock market is like betting or punting much like my nick . Its best off to stick with the trends and momentum. Right now this stock has momentum. . Its easier to go long in a resources boom.

 

[Kauri]

Have taken the short term portion of this trade out at a bit better than 2R, long term portion left on with stop at breakeven in case this is start of larger leg W(5).

 

[PureCoco]

"Zinifex Limited announced today that its wholly-owned subsidiary, Zinifex
Canadian Enterprises Inc. ("ZCE"), has taken up approximately 86 million
common shares of Wolfden Resources Inc. ("Shares") pursuant to ZCE's offer
(the "Offer") to acquire all of the outstanding Shares for C$3.81 in cash per
Share. The Shares acquired represent 95% of the issued and outstanding
Shares. ZCE will pay for all Shares taken up today on or before 11 May 2007
in Toronto."

 

[Kauri]

Interesting to see if ZFX can take out the WB high, has been flirting with it yesterday and again today...

 

[toothfairy]

Interesting to see if ZFX can take out the WB high, has been flirting with it yesterday and again today...

If you take into consideration of the recent ex dividends of a hefty 70c. It has taken that wave out & approaching peak.

Looks GOOD.

 

[reece55]

Nice move since those 15.00 levels , I sure have been happy with my trade here since the 24 April on that great trend changing day....

In saying that, it's beginning to look like it is time for a rest, I have taken profits off the deck now, waiting for a small dip before the next big leg up....

My reasons are that resistance so far has not been breached, I see divergence on the RSI and the market in general is looking like we need a rest. Kauri, you still long here or banking in profits??

Cheers
Reece