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AusGroup: Nice up day with price closing at resistance provided by the 50dMA at 60c after hitting a high of 61.5c on the back of increased volume. MFI and OBV have both turned up which suggest that buying momentum and accumulation are both moving up a notch.
We have a buy signal on the MACD as well and it seems poised to cross above zero. Resistance is provided by the merged 100d and 200d MAs at 63c. Initial support is at 58.5c. A negative is the long wick on the white candle which suggests selling later on in the session today. This adds a cautionary tone in an otherwise positive picture.
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8 comments:
Dear AK71,
Care to do an FA and TA on breadtalk?? Not too sure about this company because personally I'm not much of a raving fan of their products (prefer sun moulin) but they have been opening specialty stores in town for eg at ion (gd thing because it's the only one in ion as far as I can rmember, which means good traffic I suppose) and they are the ones who bring in ding tai fung.
Hi Raelyn,
I usually look at counters which I might have a vested or at least an academic interest in. I have zero interest in Breadtalk. Like you, I don't have a high opinion of their bread. I like the bakery, St Leaven, in Takashimaya. ;)
So, let me direct you to the following blog:
http://wealthbuch.blogspot.com/2010/03/my-first-fa-purchase-breadtalk.html
The blogmaster is vested in Breadtalk and has information at his fingertips, I should think. :)
Dear AK71,
Thank you for your link. Read the entry. Hmmmmmm not entirely convinced. But thank you again! Will be queuing for LMIR :)
Hi Raelynn,
No problem. If you have any questions regarding Breadtalk, you could post a comment and I am sure the blogmaster would get back to you. He seems like a diligent person. :)
You want to get some LMIR on the cheap too, I see. ;)
Hi AK,
Would you mind doing an update to the TA on AusGroup? Thanks!
RK
Hi RK,
I do not know if you notice but I usually encourage my readers to do their own FA or TA and we can discuss. This is more constructive for you guys in the long run and I might learn something too. Could we do this in future? Look out for my post on AusGroup later this evening. :)
Sure AK, but I will need to learn about TA first! Thanks!
Hi RK,
Two books I started out with are found in the box titled "Books I've Read" in the top right hand corner of my blog. They are from the DUMMIES series. You might wanna check these out. I look forward to our future discussions. ;)
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