As a comment on the above
There is a hammer candle on the 9th June..... these sometimes indicate a bottom
Attachment 8909
Traders could use the low on that as a stop loss to minimize risk.
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As a comment on the above
There is a hammer candle on the 9th June..... these sometimes indicate a bottom
Attachment 8909
Traders could use the low on that as a stop loss to minimize risk.
Good point Peat...I didn't see the hammer..I'm still getting use to visualising the tradingview charts..Now I see the hammer I can't figure out how I missed not seeing it, it's plain as day...Yep so that's another positive sign (makes it a slightly lesser risk when buying)..still need more for confirmations to lower the risk of entry...
Nice observation peat, and the suggested stop loss. But who here uses stops? Very rarely mentioned despite being the capital sensitive trader/investors best hedge against buying decisions. Sadly in NZ we have to maintain stops manually but it's worth the effort, better than an OMG moment when the SP goes against us.
[QUOTE=Joshuatree;668226]I make it 4,216,732 shares sold since the arguable peak on 11/4/ ; some may say the downtrend started in march. While that number is tiny compared with the mkt cap of re $1 billion its still worth noting. Quite a lot of 100 to 200 thousand vol selling into the mkt some days as the price drops. What does this mean ; i don't really know but its int. quote
Vol increased daily this week and took off today, 550,494 , biggest vol in nearly 2 years, s/p down 2 more cents . I make it 6,048,560 shares sold into this down trend now. Be a relief if we do get a SSH , maybe a signal an overhang has gone.
A week close at 469 - this is really getting bad isn't it
SUM has become unloved and unwanted. Can't fight market sentiment so have to grin and bear it eh.
Won't be selling though.
Another week next week .....and you never know might be some window dressing before the end of the month.
Yeah 369 would be bad but 469 is bad enough.
Winner is posting from his time machine again:D...I hope he was back in the past this time..
Quote..." Another week next week .....and you never know might be some window dressing before the end of the month"...A lot of stocks got moved around at market close today SUM got dragged down as did MEL SKC and WHS......AIR and GNE benefited...There are a lot of other Stocks in the 5pm play I haven't looked at yet..Any idea who the major player was (is)???...
Let's hope the Q2 results are good . Out first week of July ? Seems like everyone is moving to ATM? :) ,