awb technical musings

Hi all, I dusted a lot of coin in AWB back in Feb2009 and have been interested in how this has developed since.

Technically, the recent buy in of ING and ANZ would be on the premis of a new uptrend being established. For this to remain, AWB needs to regain $1.05

Below 97c is now dangerous territory and indicative of an extended down trend for this stock, so consider this. Today might be an anomoly, or a sign of something to come.

Be careful if you think this stock is cheap now, as it could get cheaper. A safer point of entry (longs) would be back above $1.00, around the $1.05.

This entry will get lower if AWB is in a downtrend continuation. If it gets back up tomorrow/Monday, then it confirms a safer point of entry above $1.00 which is what ING and ANZ would be thinking.

rgds,
pw