Originally Posted by
Baa_Baa
The Nov to date rise has been on net declining volume, usually a good warning sign albeit went on for over two months so not reliable by itself.
That said the attempted and now failed double top breakout couldn't have happened at a worse time with the NZX faltering on US sharemarket jitters, but that said it has held up very well - this week at least, just a brief 'warning' on the trusty weekly chart then reverted and closed above. So no worries eh. Unless the whole shebang gets another walloping, SUM should be fine. He says optimistically.
Cue the cheerleaders, SUM might need it. It has nothing to do with fundamentals if the overall sentiment is to take money off the table as all boats go down on a falling tide. Eyes on, the classic decision of 'should I hold a good long-term fundamental that pays dividends' vs 'should I reduce my capital exposure' seems to be imminent.