I for one, am prone to exiting a good trade early and I've vowed to learn from this and keep my nerve which can be very difficult if you're in a multi-bagger. I thought I would be pulling the trigger at around the 66c level but there has not been any sign of a sell signal, I believe all the selling so far has been from fear of lost profits, not the market reaching equilibrium.
so what am I looking for? I'm looking for euphoric conditions, normally characterized by a blow-off top (volume spike with an exuberant price rise, overbought indicators)
Normally, daily 15% gains would be considered euphoric, but with slightly declining volume and multiple 10+% days, this has become the norm. The fact that we've never had a price/volume breakout like this before, you would expect the indicators to reach new all-time overbought conditions before reaching equilibrium.
Some observations I've made:
-50 and 200DMAs are nowhere near maximum divergence compared to that in 2011
-Daily RSI is trending and nowhere near all-time highs
-Weekly 50/200WMA golden cross has only just occurred
-Monthly MAs are flat
-Monthly RSI has heaps of headroom
-Weekly RSI is well above MAs, 50 has only just crossed 200 (compare that to 2011)
-Relative to XAUUSD, the Australian majors are still improving/lagging, it's most likely the POG will have another leg up (the majors usually drag the minors into leading, but ALK is already there)
Moral of the story is, I'm holding.
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I for one, am prone to exiting a good trade early and I've vowed...
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Last
48.0¢ |
Change
-0.020(4.00%) |
Mkt cap ! $289.6M |
Open | High | Low | Value | Volume |
50.0¢ | 50.8¢ | 47.5¢ | $1.265M | 2.583M |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
5 | 33546 | 47.5¢ |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
48.0¢ | 1321 | 1 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
4 | 8546 | 0.475 |
9 | 60548 | 0.470 |
4 | 114876 | 0.465 |
6 | 124534 | 0.460 |
8 | 29644 | 0.450 |
Price($) | Vol. | No. |
---|---|---|
0.480 | 1321 | 1 |
0.485 | 108026 | 2 |
0.490 | 4050 | 1 |
0.495 | 67797 | 5 |
0.500 | 53906 | 5 |
Last trade - 16.10pm 26/07/2024 (20 minute delay) ? |
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ALK (ASX) Chart |