The ironers started off well during the last 12 months but then declined rapidly.
There has been a bit of a pick up during the last few months with renewed buying from China but there has been weakness over the last few weeks.
Out of the resource sectors iron has not done that brilliantly over the last 12 months.
Some of the resource sector notably coal seam gas and the gold explorers and producers have done a fair bit better during the last 3 months. All the data is 10 day moving averages to make the charts easier to read. It lags real time movment by a few days. The y-axis is semi-log so that if two companies are trending the same that their percentage change is the same despite where they start from.
AGO has performed pretty well compared to its peers over the last 12 months.
Over the last 3 months it has done exceptionally well. My home made ironers index appears to be flattening and there is room for optimism about the future share price movement.
We seem to be at a critical point at the moment. There are small signs of hope that the share price may move higher. There really is no clear direction at this moment about where we are heading.
Lets hope we get a bounce off the trend line.
I posted this yesterday but to keep things together I'll repost it here. Here is a chart with the price data points plotted against my home made ironers indices over the last 6 months. From this it apprears that AGO has plenty of room for movement with an average price of about $1.20, a low of about 80c and a high of $1.60.
Any vertical movement is due to a change in the indices while any horizontal is due to a change in the company. I only made this chart up over the last few weeks so I really don't know how effective it is yet.
The best movement from many of the charts I have looked at is , probably obvious, when the share price movement occurs when the indices is increasing in value .
The last chart just shows my thoughts about how each company that I have in my indices is going in the last week or two.
