Classic rebound... vertical down, bounce back. Even FBU rebounded. Well done to anyone would profited and thank goodness,. NZX needs every stock it can get.
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Classic rebound... vertical down, bounce back. Even FBU rebounded. Well done to anyone would profited and thank goodness,. NZX needs every stock it can get.
My intention is not to be racist, generalistic yes, on the people I have met. I also mentioned that I have no idea of what the choices from mainland China are and they might be the conformists, some individualists, some extroverts, some introverts, some honest people, some crooks, some overperformers, some underperformers as well as some people who try to enhance their perceived status buy parking a big SUV in their driveway or buy buying the expensive milk powder instead of the cheaper one. Who knows.
But please don't bring racism into my posts. I am blunt and maybe not PC all the time, but I mean well and wish the best for all races, colours, ethnic backgrounds and religious or not.
TA is a independent analysis ...Pure TA followers believe that fundamentals will align to fulfil charts demands .
So if we are to be fundamentally on further deterioration path then crossing 12.40 will prove to be almost impossible ...
Also sellers at 11 levels did nothing wrong ...they could have waited for this bounce but they were so scared and negative that they thought it prudent to cut their losses and buy peace of mind ...no one can time the market to perfect dime !!
Remember on first down grade it went from 18.40 to 15.30 or so then bounced till 16.30 but eventually settled at 14 .
Now as market was 70% priced for this to come so either the equilibrium point is around here only or if further troubles expected it may test 10.90-11.20 band .
Extreme case 9.80 should hold unless 3rd downgrade is more severe and unexpected ...10/100 chance !!!
Regardless of whether there's been 1 or 2 downgrades so far, a simple TA analysis reveals an entrenched downtrend from early August.
I would be waiting for confirmation of a reversal before buying in, even just an SMA cross (and a tight stop).
(ASX data, Heiken Ashi candles and 10,30 SMAs)
Attachment 12163
Looks like riding the major trend changes, (momentum trading) in the last 3 years has been the most productive strategy. Changes of position dictated by a break up or down through the black line (100 day MA) seem to have worked very well and I think they will work well going forward, (in which case a very good risk management strategy is to stay out until there's a clean break up through the 100 day MA, which is what I am doing). People using a simple TA risk management strategy like that would have sold at ~ $20 and been very pleased they did !Quote:
Merry Christmas everyone