I like to base my investing on fundamentals rather than technical analysis. Given I currently hold NUF as an undervalued situation, the following comments could influence some chart followers, but not fundamentalists. Looking at my chart on NUF, I believe a sale above say $10.10 would break the recent downturn started from the recent high of $14.46 on 5/5/2009. Its amazing the number of chart followers who watch for these downturns to be broken before making a purchase or entering into a stock.
Personally I like fundamentals to guide me to a stock & may be charts to show my exit. Recently I have used charts to exit companies I consider have good fundamentals, only to buy back cheaper again after the downturn has finished.
Given the way NUF can open, may be $10.10 can be broken tomorrow, & we are joined by a whole new band of chartists in NUF.
Regards
Buffett
PS Chartists don't care about the weather or weeds only their graphs!
chart
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Last
$4.09 |
Change
0.070(1.74%) |
Mkt cap ! $1.566B | |||
| Open | High | Low | Value | Volume |
| $4.04 | $4.15 | $4.04 | $9.009M | 2.201M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 3000 | $4.08 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $4.15 | 167545 | 5 |
View Market Depth
| Last trade - 16.10pm 18/11/2024 (20 minute delay) ? |
| NUF (ASX) Chart |