ALQ traded above the 28-day EMA (currently at $7.12) for the first time on Friday Jan 6. This is bullish. The 28-day EMA is not meant to be some "holy grail" moving average, but after extensive testing, has proved to be a robust buy trigger. My strategy is to enter an SMS and/or e-mail alert with my broker, based on when ALQ first trades above $7.12. Once the signal is received, I buy ASAP the same day.
Volume is still not above average. Perhaps this is partly due to the holiday season where traders are away. I use a histogram bar volume display with a 20-day EMA line. Ideally when a share is trending up or breaks above resistance, volume should be above the 20-day EMA line.
But for me at present, ALQ represents opportunity cost. The horse has long bolted in terms of extreme capital gain opportunity. Think 70 cents back in 2002 to $6.00 in 2007.
Interested to know if anyone on this forum detected uptrend conditions for ALQ when it was below $1. Lots of 52-week high appearances in newspapers back then! Couple this with increasing volume, it's a buy.
Current long portfolio:
(ACX_AGY_ALU_APT_APX_ASL_AVZ_A2M_BKL_BSL_CWY_LVH_MLX_NWH_NXT_ORE_SYR)
ALQ traded above the 28-day EMA (currently at $7.12) for the...
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Last
$15.65 |
Change
-0.250(1.57%) |
Mkt cap ! $7.583B | |||
| Open | High | Low | Value | Volume |
| $15.98 | $15.99 | $15.53 | $12.66M | 808.0K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 97 | $15.64 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $15.67 | 3254 | 1 |
View Market Depth
| Last trade - 16.10pm 23/08/2024 (20 minute delay) ? |
| ALQ (ASX) Chart |