Yes a timely reminder, thanks. She is a wise one well beyond her years. Gone but definitly not forgotten.
Thanks Hoop.
Printable View
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What has happened since the post above??..
Very long term charting summary:...SUM has been in an up trending SD channel since listing over 5 years ago and the share price has gained over 300%
Medium term to the present summary...(refer to chart below)...A week after the 29th September chart posting (the chart above) SUM's TA wheels fell off triggering medium term sell signals (ema50 & 100 breaks adding to the list of breaks) The new bottom ($4.58) respected the MA200 and the subsequent rally in late November ended up being disappointing, triggering buy signals only to see investors getting burnt (Bull Trap). That rally was a sucker type and was quickly confirmed as such on the 8th December when the MA200 line broke indicating SUM had entered into a Technical bear market cycle...
Since the 8th of December we have seen another bottoming out at $4.45 and this latest rally looks to be wilting at the resistance conjunction point of $4.70 where the MA50 ema50 the new confirmed downtrend line and the $4.77 resistance line (not marked in the last chart) meet. Also there at $4.77 are the Ema 100 and MA200 lines..Conjunction resistances are powerful areas to break through and requres large buying pressures..The momentum (momentum indicator not shown but the MACD is shown) at present shows not much buying pressure to speak of and with the price at $4.61 the falling wedge threatening upward breakout (which is now due..Bulkowski) looks in doubt.
The falling Wedge pattern is a poor performing pattern but does have a 68% chance of an upward breakout...Being noted as a poor performer any upward breakout has to continue onwards and upwards to over $5.00 to alleviate sucker rally fears..even as a poor performing breakout the falling wedge pattern is still seen as a buy signal, however it is prudent to wait for further buy signals (The already triggered MACD may be a tad to quick) to help confirm such as the DMI which it seems will trigger about the same time as the EMA100 and MA200 resistance breakouts..If that happens, both medium and long term investors will enter around the same time which in theory should provide larger than "normal" buying pressure....
Until then we should wait so to minimise another downward risk.
http://i458.photobucket.com/albums/q...012012017B.png
Have come across a new group on Facebook that is focused to Momentum and Technical entries. There could be some past contributors to this thread that continue to share their wisdom/lessons.
Though I would share in the interest of everyone who is keen to continue learning :)
https://www.facebook.com/groups/919003914837050/
More TA discussion about PPH on facebook (see link above)
Disc: holding PPH
http://i458.photobucket.com/albums/q...2016022017.png
Updated the chart (manually)..The unadjusted chart is behaving surprising well especially that 2.08 unadjusted support line..
Also in play is the 2.28 support..remember AIR's shareprice is going to be 10c less at the commencement of ExDate (Thursday 9th March)...if AIR hangs around the 2.40 price then goes ex date that 2.28 support is a valuable floor and could be a bullish outcome..
Looking at the latest unadjusted weekly chart it is showing attempts to bust through the bull/bear line at $2.40 (2.41)..If it achieves that goal (remember the 10c hit at ex-date) then AIR becomes an unadjusted Bull and the Bear dies...I mention the unadjusted Bull because on the "normal" adjusted charts chart AIR regained Bull status at $2.20 back on the 4th January 2017 (Price above MA200). The difference (adjusted/unadjusted) is one confirming the other..
Another interesting development pointed out to me today by a ST member (via PM) was the formation of an inverted H&S pattern (bullish)...I had not seen the pattern as it is nearly undetectable on the adjusted daily chart...but it is clearly visible on the adjusted weekly chart..The neckline broke at ~$2.25 7 days ago creating a bullish Target price of 2.25 + (2.25 - 1.75) = $2.75.. (Note:- the chart below sees a 4 pointed resistance line at 2.70 ..not drawn in)
Referring to the unadjusted chart below that inverted H&S pattern doesn't exist but its effects may be seen as a predictor that the break out above $~2.41 has a good chance of happening and the big H&S that is still forming will cease to exist ending my dotted line prediction to the rubbish bin...Therefore armed with these different sets of Technical charts..Even though the chart below still has a forming H&S pattern in play (just) and the AIR shareprice is at those resistance points, overall the differing charted TA disciplines are saying don't sell as indicators and patterns remain bullish
http://i458.photobucket.com/albums/q...IR02032017.png
Your post appears to be about the second quarter down of the right most twelfth of that probably over annotated chart (but with a log price axis:t_up:).
Any chance we get a more focussed rendering?
Best Wishes
Paper Tiger
TGH released its full year results today and it's been mentioned by management that it is still on track from the December HY interim results which saw TGH share price drop from $1.55 to $1.30...so reading between the lines and taking Management at their word one would assume that the fair price would be around the $1.30 mark.. but it's not to be... as the share price ex announcement today has been a non event.. ($1.15 +1c )
Chart TA is showing mixed signals...The rally from the 1.05 bottom seems to be showing that this time is different as the TA indicators are showing some promise for the first time since the downtrend started back near the IPO. This gives a hint that maybe the 1.05 is the true bottom....However a few days before the FY Results announcement TGH's rally (which had promise after it broke through it's first resistance level) failed at the second resistance point which just happened to be a conjunction area (trend line + EMA110 +resistance line) which indicated a screaming TA chart must sell signal...but since then the announcement did not cause a gap down... so what's happening??..Those early TAers have probably sold a day or two ago will now be watching too...What we do know is TGH is still in a downtrend trend and this latest sucker rally seems to be played out so we wait on the side-lines until the next positive signals arrive.
TGH is very TA friendly, so breaks and failurers should be taken seriously.
http://i458.photobucket.com/albums/q...2027062017.png