Chart Update, page-763

An updated Ichimoku chart is shown below. Relevant comments are on the chart. These comments are along the same lines as Rock57’s observations. Ichi seems to be working quite well on the A2M chart!



My Trade Chart for A2M is shown below.



Observations are:

The 50MA provided significant resistance to the previous up move of the SP.

The Stochastic cycle indicator has been in down trend since 12/06. The fact that he SP didn’t really fall at all during this short term down momentum period is a good sign.

Longer term momentum (green line on panel second from bottom) is still moving up.

The Ultra-High Volume of the Close on 16/05 put in place a significant anchor level that the SP is respecting. It would appear now, from Rock57’s post that the relevant Financial Analysts now also agree that around the 1050c level is the appropriate level for the A2M SP. A bit slow to the plate I think. We all knew that on 16/05 didn’t we? Who says TA and Chart Reading doesn’t work!!!!

Anyway, I’m still waiting for a good short term entry signal to take a new long position in A2M. Have to wait for the stochastics to bottom out and turn back up. If this occurs at the 1050c level or nearer to the long term up trend support line level, all is good. As long as the green support trend line isn’t broken.

Good luck to all A2M Short Term Traders and Long Term Investors, and DYOR.

Wilf