Apology from Recherche

In my charts one line is described as closing price (weekly), and the other is a smoothed trend of the weekly values.

To be strictly accurate the line described as "closing price" in fact shows the weekly closing prices as a percentage of the 2 July starting price times $ 1000 to show the gain on $ 1000 notionally invested since the start of the financial year, in the case of ASM = $ 1,692 as at last night if my figuring is correct.

This index based on 1,000 should have exactly the same shape and volatility as the weekly closing price itself.

I trust this has not been misleading?

Now I am seeing something of an ascending triangle (flat line across highs, rising upward slope of lows) since August.

Perhaps it is getting ready to break out above the highs as others seem to be suggesting.

I will try to update and display this after today's close.

(I am not a short term trader by preference, as I've never been that good at it.)

Recherche