While this does have Bearish connotations, there is no downtrend as yet. Friday's Close was at $1.23 - exactly the level of previous support on 29/7/08. A Close below this would mean a downtrend though. (It would give a lower Low after a lower High)
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While this does have Bearish connotations, there is no downtrend as yet. Friday's Close was at $1.23 - exactly the level of previous support on 29/7/08. A Close below this would mean a downtrend though. (It would give a lower Low after a lower High)
Yes Phaedrus, I concur! Penant can go either way usually before the triangle forms.
But this one has shown its direction and will at least retrace to 1/2 the previous pole rise.
My pick being that of prev resistance of around the $1.16 mark.
A good buy on the rumour sell on the fact, just posted a reasonable growth in this weekends Press.
The Bear
Will see on monday KB.
That $6 drop in oil should restrict that movement for time being.
I've heard from a couple of people, who have some credibility, that Air New Zealand have been doing due diligence on Pacific Blue in Australia. This is presumably with the aim of increasing their presence within NZ's biggest inbound tourist market.
After the Ansett debacle I guess Air NZ would have to be very sure of their ground, however the concept of having a big stake in the domestic OZ market is still very attractive in my opinion. At the current PacBlu price, now might be an attractive time to buy in.
As an AirNZ employee thats news to me!
But we do have a GR8 relationship with VB & Pac Blue doing their A/C heavy maintenance in Christchurch.
No, don't hold any VBA but do hold AIR. If Air NZ did buy a controlling stake in Virgin Blue my guess is that it would have minimal impact on share price.
The move by the world's big airlines (British Air, American Airways, Iberia etc) to form megacarrier alliances reinforces that the future will lie with a few giant carriers with nothing much left for small independents.
Grow big or die.
My sources are in Air New Zealand. Can't say that anything is happening for sure but there are some pretty strong nudge/ nudge/ winks going on. I've also had a bit to do with the engineering in Christchurch so am aware of the relationship with VB and PB maintenance - which seems to be going well.
The sharemarket is all about rumour and innuendo anyway isn't it?