amg63 & hoofa's obj tech thread

Hi amg63 and hoofa,

I hope you don't mind but you guys are leading the charge on TA so I thought I would put you in the thread title.

I reckon things might be getting interesting for obj in the near future and I also reckon that TA is going to become more relevant to identify short term trading opportunities.

So here's my two bob's (they are all weekly charts)

SP has been in a descending channel since Oct 2010. Upper resistance on that channel is now at 2.4c (ish) a sustained (weekly) move above that will indicate significant breakout.

RSI has been in down trend since Apr2011 but has recently (early Oct) broken thru resistance and is heading north

Slow stochastic is looking a bit hot right now and may result in some short term pull back but the underlying trend is positive since July.

Acc/dist I think hoofa's posts have said it all, but gee it looks good. By the way thanks surges for putting me on to this chart many many moons ago.

MACD I have always struggled to interpret but fortunately amg63 doesn't so I'll leave that alone

30wk MA and volume also look OK

I'm looking fwd to being able to trade a (small) portion of my OBJ investment in the near term. The bulk of my investment remains long term hold and the challenge as I see it is for the OBJ mgt team is to commercialise the technology and develop OBJ Ltd in to a ASX200 company. Here lies the real challenge, the scientists have proved their worth now it's up to the commercial guys to prove theirs.

bluebush