BUD (ASX) BUD Chart

Originally posted by songokou ↑

@Bloke383 ,
There are many on this forum ( other threads ) who use Fibs theory and swear by them. I am not a fan or active practitioner but when I do apply those lines, they seem to have their use on multiple occasions 4me. Often, they work as possible points of extreme movement or turnaround for the stock but often as estimates, picking amongst which retrace is more the art. So a strong stock could reverse @38.2% or @50%. Throw in abit gap theory & some may start saying art of tea leaves lol.

I'm more for fundamental analysis events as markers for the SP and as motivation, eg. CR pts, director buy / sell points, and use previous supports, trends, trading channel and simple overbuy and oversold indicators as useful tools.

Havent charted this, so dont quote me on the fibs, but IF 23RD feb was the 61.8% fib retrace, that would be 15.5c ( as I was just chkg on this date on another post) and based on the current trading range should make a strong support pt. No signs of this yet but any stock that breaks 61.8% is usually in abit of strife and not a holder imho. Not BUD atm.

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Hi Folks

This wild global swing SP action is clearly causing capitulation selling by humans as the robotic algos feast on the uncertainty that they in turn have created. I refuse to believe that Facebook's data blunder should cause such international chaos, unless it was this week's pretence to engineer a SL hunt for the algo hunters. These algos are unconcerned by fear or true market value considerations:

'Algorithmic HFT is a notable contributor to exaggerated market volatility, which can stoke investor uncertainty in the near term and affect consumer confidence over the long term. When a market suddenly collapses, investors are left wondering about the reasons for such a dramatic move. During the news vacuum that often exists at such times, large traders (including HFT firms) will cut their trading positions to scale back risk, putting more downward pressure on the markets. As the markets move lower, more stop-losses are activated, and this negative feedback loop creates a downward spiral. If a bear market develops because of such activity, consumer confidence is shaken by the erosion of stock market wealth and the recessionary signals emanating from a major market meltdown.' ( www.investopedia.com/articles/markets/012716/four-big-risks-algorithmic-highfrequency-trading.asp#ixzz5AG9lIEww )
For me, the BUD story today is as good as it was at 25 cents a month ago. As a holder, I can either back my judgement or get shorn with the rest of the sheep...

GLTAH