The $11.16 average stock advisory sell price was 15.5% below the $13.21 March 21, 2018 intraday high. I don't count the Feb 22, 2018 $13.78 intraday high. That day was a bearish shooting star candle. Around that period, many on this forum were commenting that the best was over for the near-term after the huge Feb 22, 2018 bearish reversal day. These comments can be seen by checking HC archive posts. As displayed on a weekly chart, MACD lines reached a large peak since late Feb, 2018 and have been dropping ever since.
So to answer your question, no $11.16 average was a reasonable exit for a more conservative holder. Tighter stop loss points can sometimes prematurely shake a trader out of a good trade. However, for short-term swing traders, $11.16 would be a relatively poor exit. They would have exited when the MACD first crossed down on a daily chart around $12.60 circa March 20, 2018.
My default chart displays multiple moving averages. A2M previously demonstrated that it could fall to the 60-day period moving average before bouncing up off it. The 60-day EMA is now at $11.25, but A2M has fallen well below it for the first time since Jan 15, 2018.
There are several worse looking charts around than A2M. At least the daily 200-day moving average is still rising. The long-term trend is still up for now. When a signal to re-enter appears on my charts, I will buy.
When a stock falls below the 200-day moving average, I make it a rule to exit. Fortunately A2M is still well above the $8.73 200-day EMA. This technical rule saves me from being involved in horror stories like what is now being related on the BIG UN Limited HC forum page.
https://hotcopper.com.au/asx/big/
Chart update, page-10676
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Last
$6.25 |
Change
0.510(8.89%) |
Mkt cap ! $4.525B |
Open | High | Low | Value | Volume |
$6.24 | $6.77 | $6.05 | $29.65M | 4.654M |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
1 | 152106 | $6.56 |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
$6.00 | 370 | 1 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
1 | 152106 | 6.560 |
1 | 176 | 6.500 |
1 | 78 | 6.370 |
1 | 222 | 6.320 |
1 | 620 | 6.300 |
Price($) | Vol. | No. |
---|---|---|
6.000 | 370 | 1 |
6.010 | 6365 | 1 |
6.030 | 18 | 1 |
6.080 | 227 | 2 |
6.100 | 4440 | 1 |
Last trade - 11.20am 27/09/2024 (20 minute delay) ? |
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A2M (ASX) Chart |