PGW - PGG Wrightson

[root]

I can't see anything that suggests PGW is about to break out of the down trend it's been in for the past 6 months, but I'm ready to buy back in as soon as there is a glimmer of hope. Looks cheap at this price.

[percy]

I can't see anything that suggests PGW is about to break out of the down trend it's been in for the past 6 months, but I'm ready to buy back in as soon as there is a glimmer of hope. Looks cheap at this price.

Wise thinking.

[GR8DAY]

.......the poor sods that were paying $3 or so for this stock!!......i thought 54c was a screaming bargain, might have to get the chekbook out again if this keeps up.

[Phaedrus]

The long downtrend grinds on. See how effectively TA has kept you out of this stock, though! None of the 4 oscillators at the top of the chart have triggered a Buy signal.

This chart provides some good examples of the importance of confirming any buy signal before acting on it. See how a break of the magenta trendline indicated a "buy" signal at the blue arrow? Would you act on that? No - there was no confirmation from any other indicator. It is not good practice to act on any signal in isolation. Look too at the OBV plot. See the "big money" getting in at the blue arrows? Normally this is regarded as Bullish and a buy signal. Note, though, the total absence of any confirmatory signals. The big money is not always the smart money!

I was tempted to append a swag of bullish comments from people that have been holding (and buying!) PGW all the way down, but it seemed a bit unsporting given the losses they have incurred. The usual suspects are all there though. Fundamentalists, permabulls, big noters, optimists all.

I can but repeat my usual admonitions :-

Don't hold onto downtrending stocks.
Don't buy downtrending stocks.
Don't add to losing investments.
Don't average down!

[h2so4]

P. with respect I feel there is something off when your charts are filled with quotes from posters.

I have read through this thread and think alot of posters have been confused over the value of PGW. I encourage posters to get back on their horse, take a step back and try and figure out what they may have done wrong. I know that if I ever had a reason to be confused about a share price I would sell.

[percy]

Phaedrus.
Thank you for another excellent chart and sage advice.

[Dr_Who]

Cheers Phaedrus.

Looks like it is going lower?

[peat]

looks a bit like an ending diagonal to me so this final spike down might be the end.
IF it is then recovery would be swift.

[percy]

Cheers Phaedrus.

Looks like it is going lower?

Reminds of the Limbo dance "how low can you go?"
peat "wouldn't be nice"


ps No one needs to tell us how low it can go,as we have been there more times than we would like to admit!!

[Phaedrus]

Looks like it is going lower?

Well, it fell another 4% today. RVI is falling. RSI is falling. RMI is falling. Stochastic is falling. In the face of that little lot, I am inclined to agree with you!
PGW closed today at 47 cents - right on previous support. Would you be prepared to put money on that support level holding? I wouldn't!