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Bestbrook,
You may have missed the message i sent out on the
21/8/01(see below). I bought WHS at $5.75 then, I am monitoring to get out with
a reasonable profit because the stock is currently in a technical "overbought"
mode and may be due for a technical retracement/correction. It is hovering
around the resistance level of $6.20-$6.25. IMO, it may not be a good entry
point unless the price breach this resistance level in the next few
sessions.
Bearing in mind that the company share buy-back
scheme finishes on the 25/10/01, so may be some healthy buying that we are
seeing currently is the result of the buyback. The company has reiterated
that they will not revive the scheme when it finishes this month. So, it
would be interesting to see how the share performs post buy back.
One company which I am particularly interested at
the moment is CAH which is in an interesting technical phase. This stock is on
fundamental, most undervalued due to its cyclic nature and it may be due
for a rebound especially when they have
put in place considerable initiatives the last 12 months. I noticed also that
some sharebrokers (JB Were etc) are starting to recommend the stock as
"outperform". Its major shareholder IP is announcing quarterly report on
18/10/01 which will provide a good lead as to how CAH performing. Rumour in the
sharebroking fraternity that CAH is a takeover target by its parent IP.
Sit tight and wait for the action unfold, like CEN
recently? Make your own judgment.
Cheers
Stephen
----- Original Message -----
Sent: Tuesday, October 16, 2001 9:28
AM
Subject: [sharechat] WHS &
Phaedrus
As a medium term
investor long-time "lurking" (Ben Dutton) in the wings (and long-time admirer
of the Phaedrus touch!) waiting for a suitable entrypoint for
WHS, how is it looking at the moment, Phaedrus?
(Your charts are
the best in the biz!)
----- Original Message -----
Sent: Tuesday, August 21, 2001 3:56 PM
Subject: Re: [sharechat] WHS Chart
> Hi guys,
> IMO, WHS was forming a
"Pennant" lately as illustrated in my graph (point
> 1,2 and3),
instead of a Descending Triangle" as suggested by Pedro's
>
previously post.
> Technically, it is getting rather interesting,
because if the price breaks
> out above the "pennent", it is
likely to signal an imminent uptrend. I have
> pre impose today's price
on the chart and it seems to suggest that a rally
> could be
imminent if today's closing price can be maintained day end.
>
Since the last price trough in early July, the On Balance Volume graph
of
> WHS is on the upward trend (point 5 on the graph), suggesting that
an
> increasing money are being poured into WHS shares. "On Balance
Volume" is a
> "leading" indicator, therefore on balance of probability,
the price would
> follow the upward trend as the OBV.
>
>
So time would tell, but I am putting the money where my mouth is and
taking
> a punt on WHS. Again, some of you who are more conservative may
want to wait
> a bit longer to jump in.
>
> Stephen
>
>
>
> ----- Original Message -----
> From: Paul and
Noriko <pan@muh.biglobe.ne.jp>
> To:
<sharechat@sharechat.co.nz>
>
Sent: Wednesday, August 22, 2001 12:13 PM
> Subject: Re: [sharechat] WHS
Chart
>
>
> > So looking at (admittedly intraday)
prices, todays movement seems to have
> > heralded a new uptrend,
right?
> >
> > ----- Original Message -----
> >
From: Phaedrus <Phaedrus@techemail.com>
>
> To: <Sharechat@sharechat.co.nz>
>
> Sent: Sunday, 19 August 2001 14:55
> > Subject: [sharechat] WHS
Chart
> >
> >
> > > Pedro,
> >
> As you say, WHS is in a
Descending Triangle formation (see chart
> > below). This pattern
indicates that sellers are more agressive than
> buyers,
> >
and, as Murphy states, is usually resolved to the downside. A decisive
>
Close
> > below the support level of $5.30 would confirm this as a
"Descending
> > Triangle as a Top" formation, and would signal a
major trend reversal.
> > > From my perspective, this
is largely academic. (I sold at the
> Trendline
> > Break).
There is certainly nothing that would entice me back in at the
> >
moment, and I note fairly consistent resistance at $6.25 that would
need
> to
> > be overcome even if the breakout was atypically
to the upside.
> > > Peter is of course quite right
when he says the long-term trend is
> still
> > up. It is a
question of whether you wish to grit your teeth and hang on,
> >
riding out the corrections, or sell and perhaps buy in again later.
The
> > price has now fallen 10% since the trendline break, and is
down 18% from
> the
> > peak. This is all profit given back to
the market by holding on.
> > >
Regards,
> >
>
Phaedrus.
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