Forum Archive Index - January 2002

["andrew cottingham" <arco@adinfinitum.co.nz>]

 

 

There seems to be interest on the forum in both ASX shares and charting in general, so here is in my opinion a chart pattern that could be poised to break out - maybe in the very near future (and especially after that bullish Marabozu of yesterday).

The stock consolidated through May - September... and then made a beautiful ascending triangle Sept through Dec. Now it has been consolidating for the past few weeks and all being well it will blossom once again and break through the top of the box. Certainly it has had a good run since I purchased in May at 88c, however resources seem like they will be flavour of 2002,  and any break out may give me an opportunity to pyramid up. Other positive factors are - RSI is rising, and the Macd has crossed over the zero line.

So to re-iterate - a close above the red box (preferable on high volume) would be a bullish signal. A Darvas stop loss would be actioned on a close below $1.13. There could be some resistance at $1.28.  We may want to take in the bigger picture and consider the blue box as being the dominant box, and therefore in that case a close above $1.28 would be bullish.

Use your own judgement / and research. I have not checked any fundamentals and I can only tell you how I see it. Someone else might have I different opinion, and - of course I could always be wrong, so please remember.  All share trading involves risk, and nothing in this e-mail is to be construed as an invitation or recommendation to trade or invest. 

 

Andrew

 

----- Original Message -----

From: Glenda Adams

To: sharechat@sharechat.co.nz

Sent: Monday, January 07, 2002 8:23 AM

Subject: Re: Re: [sharechat] MCR.ax

I too would be very interested in any discussion of Australian shares.

 

Thank you for the postings on trendlines and charts.  Have learnt a lot over the last two months.

----- Original Message -----

From: Glen Whiteman

To: sharechat@sharechat.co.nz

Sent: Friday, January 04, 2002 9:34 PM

Subject: Re: Re: [sharechat] MCR.ax

This used to be a great chatsite, I just check in occasionally now. I stopped trading NZ shares some 6 odd months back, switching solely to the ASX.

I for one, would like to see more discussion of ASX shares on this site, to add a NZ view to my trading decisions.

p.s. MCR certainly did have a nice move today. Against my better judgement I put in a sell order at 21.5c, didn't get hit, so we will see what happens next week.

================================
Glen Whiteman
Quality Resources
C/- Shell Vincent Street
109 Vincent Street
Howick
AUCKLAND
Ph: 09 535 5220
Fax: 09 535 3667
Mob: 021 707 250
e-mail: glen@qualityresources.co.nz
================================

LHG 08.01.02.gif

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