morning hci,
I agree with the chart predictions and a grain of salt.
I have no conviction in my own predictions - at least time wise.
I boil it back to basics --------- growing businesses invariably mean over time (when is the secret) a stock price will continue to rise - and continue to make new highs -
not necessarily every year - indeed a stock can go south for a couple of years - or more - but, eventually it has good growth runs and makes new highs ------------ that's what stocks do.
I also have very little faith in TA these days - I think the days of reliability are long gone -
Hx to me tells me that TA was glorious - from 'reading the tape' to computers - the golden years - but, then, self fulfillment and now the scourge of it all - machine trading - means to me that it just doesn't have the power it used to.
That said - I still take with great interest the very basic tools when they are hit - like long term trendline breaks ----------- far more often than not ------- they should always be noticed and respected.
There are of course - many other indicators of value - which need to be noticed - but, that's all - noted ------------ eg. the daily bollie atm ---------- AJX hugging the top line in a grip of glee -------- will it continue? Good bet - but, that's as far as I will take it.
Size of the bars and a growing pattern (bigger bars) -------------- yes, yes - still means something - even with machines working the system.
In fact - this move of the last week is very very different for AJX - the most different of the last 2 years at least ------------- INCLUDING Aug. 15 - which is probably about the closest resemblance.
What does it all mean?
IMO - depends on what unfolds from here. If we got another ann. next week - as often is our habit - and, we like it - then we storm on to cash flow positive confirmation, good 4c and a full year report - then, it probably means a massive rerate again.
If it all fell flat? - well, the Champers might just stay in the fridge until the end of the year.
Personally - I think we have the financials 'managed' until into next calendar year - the graphs will look like good growth - and, will be good growth - until we get into the new premises and growth comes hurtling down the track - in about at a guess 6 months after that.
That of course is the problem with graphing - it only tells us the past. If we have enough numbers then graphing the actual business can be very effective barring black swans.
Graphing the SP though - still leaves the East side of the screen a mystery ------ because there is more to life than our particular business. The world has a habit of stuffing up the best of charts.
(20min delay)