Like most others on this forum, have been thinking a lot about SP. Came across an interesting pattern called a cup and saucer - actually they were talking about it on Fast Money last Friday. The below shows what I think is going to happen (im no TA, but looks obvious to me). The main variables are:
- If A2M meets forecasts, below cup and saucer pattern will hold true
- If we get an earnings upgrade, then big spike in SP, maybe $2.5-$2.6
- If A2M does not meet targets, then back to $1.5
However, global markets will have an impact. Monday will see a positive rise in the SP from US on Friday, prob kick it back over $1.7-$1.75. US markets closed on Monday so at least Tuesday will also not be influenced, so market will likely determine price - expect huge volumes IMO. Finally, Wednesday; which will be influenced by US Tuesday market and I think they will be up as there is talk about cementing no more rate hikes in the US this year which will provide a strong relief rally. This all leads to a *strong* setup - looking at past financial ANN, they are released at 7:30am. The stronger the lead up, the stronger the price rally (assuming A2 milk are performing as expected which im confident they are).
Anyway, good luck to all holders - this cup and saucer trend for me is now making more sense and quite excited about Wednesday! Tho, looking at the trend, holding on for a couple of weeks after this may lead to far greater returns - time will tell!
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Source :
http://www.investopedia.com/university/technical/techanalysis8.asp
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Last
$5.53 |
Change
-0.030(0.54%) |
Mkt cap ! $4.003B |
Open | High | Low | Value | Volume |
$5.55 | $5.57 | $5.49 | $5.946M | 1.074M |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
1 | 2677 | $5.52 |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
$5.54 | 27274 | 4 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
1 | 2677 | 5.520 |
7 | 42139 | 5.490 |
5 | 21932 | 5.480 |
1 | 8154 | 5.460 |
3 | 23827 | 5.450 |
Price($) | Vol. | No. |
---|---|---|
5.540 | 27274 | 4 |
5.550 | 18335 | 3 |
5.560 | 12205 | 4 |
5.570 | 11826 | 2 |
5.590 | 11154 | 2 |
Last trade - 16.10pm 05/09/2024 (20 minute delay) ? |
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