FBU Chart.

[winner69]

a winner have a look at this

http://unconditional.co.nz/blog/buil...market-trends/

it shows building consents havnt even reached back to early 2000 levels so I would classify that as still recovering trend rather than a boom, so why I say boom yet to come - why because immigration is far surpassing dwellings being built will lead to shortage in a lot of places soon

Agree bull .... good thing forecasts are to get back (or higher) than where consent numbers were in 2007/08

But notice in long term chart currently the numbers are off a much lower bottom of the cycle in 2011

Residential consents have doubled the last few years - that's a boom. Fletchers not done that well earnings wise in that time have they?

And commercial / infrastructure spend all good for FBU as well in NZ

[Hoop]

Share price trend unsustainable and will correct (but when?).....solid volume, so can't categorise this latest near perpendicular rise as similar to historic blow off tops which have saw hefty corrections of 20% + and both times ultimately lead the shareprice to touch the bottom boundary of its long term price channel

Going above trader targets and the breaking of its 7.5 year rising channel with non-spectacular reported earnings is considered a worry for me, hence the caution channel breakout arrow

[winner69]

Remember my cup and ladle pattern of 2013 Hoops - that said $14 about now

And that $14 was backed up by fundamentals as well - the start of a building boom and Christchurch rebuild as an extra

FNZC said FBU worth more if broken up into different businesses - suppose they still think so

[winner69]

Share price trend unsustainable and will correct (but when?).....solid volume, so can't categorise this latest near perpendicular rise as similar to historic blow off tops which have saw hefty corrections of 20% + and both times ultimately lead the shareprice to touch the bottom boundary of its long term price channel

Going above trader targets and the breaking of its 7.5 year rising channel with non-spectacular reported earnings is considered a worry for me, hence the caution channel breakout arrow

Mr P always said FBU was one of best behaved stocks on the NZX (technically speaking)

[Hoop]

Mr P always said FBU was one of best behaved stocks on the NZX (technically speaking)

WAS is the word..

Then Mr P stopped posting on ST and FBU's behaviour went to the dogs... about the same time as Your & Moosies cup and handle type pattern (actually a Big W pattern.)
So whose fault was it???.

Actually if I can remember accurately Mr P had FBU for 7 years before his TA discipline kicked him out...An great example to prove to people that not all TA'ers are traders...

The chart below has an earlier extension to it ..It shows how well behaved it was up to the GFC...In hindsight apart from one big sucker rally it well behaved in its down trend too right up to the end of 2010***....I've also presented the chart from a different viewpoint..

The end of the global Equity Bear in March 2009 saw FBU rise with most of the other stocks, then broke ranks and traded sideways...after the trading range ended FBU went tempermental and TA unfriendly..
So why did this happen?...usually trends end and patterns come and go, but often a stock chart behaviour lingers on like an individuals personality..A TA friendly stock normally stays friendly even though its various trends and patterns...

Looking at FBU'S chart below, it is easy to see a paradigm behavioural shift occurring around the beginning of 2011.....Sometimes a change in direction of Management Strategy can cause a paradigm behavioural shift...but the chart's timing doesn't agree as Jonathan Ling took the CEO reins in Set 2006 -Oct 2012 and Mark Adamson followed from Oct 2012 onward, so the beginning of 2011 timeline shows the change of CEO is probably not the cause...

Another incident did happen though around that time..the second and destructive Christchurch Earthquake on 22 February 2011 (1st one Sept 4 2010)..

***...Ignore the ridiculous 2008 bear market crash "price tails".. Yahoo data is dodgy at best..

[BlackPeter]

If you happen to be that day in Christchurch and want to hear Tony Carter (board member of FBU, next to many other roles) speaking - here is your opportunity: http://www.sharetrader.co.nz/showthr...l=1#post639524

[macduffy]

FBU shareprice gained 44c (4.4%) today. Is today AGM day or ...........?

[macduffy]

No, not the AGM. That's next Tuesday 18 October.

[peat]

FBU shareprice gained 44c (4.4%) today. Is today AGM day or ...........?

I still haven't seen anything to drive the price up like that yesterday.... Surely it cant be a response to the govt deciding to create housing supply coz that was announced a few days ago.

[macduffy]

I still haven't seen anything to drive the price up like that yesterday.... Surely it cant be a response to the govt deciding to create housing supply coz that was announced a few days ago.

Yes, all rather strange. Perhaps an optimistic forecast is expected from Tuesday's AGM!