Fair enough. We have different trading strategies.
I am going to try to keep this reply as short as possible. I am a chartist who trades over-sold and over-bought to try to free-carry shares.
* Aussuper and hostplus involvement since the float in 2021 is a strong positive , However In that time despite their involvement SP has been 1.09 at float => 0.33 => 0.71=>0.42=>1.35=>0.53=0.95 so offers no protection against volatility.
* Long term positive chart signals 3 Higher-lows 0.33, 042 and 0.53. one higher-high 1.09 to 1.35.
* In the run from 0.42 to 1.35 4 gaps created, all filled lowest being 0.55-57. If EBR was an ASX300 stock in my super (no CGT) I would have bought a trading parcel at that lowest gap 0.55 and would have sold 40% at the 38% FIB at 0.84. EBR is not in my super and I don't have a SMSF so I would have paid full CGT with no long term 50% discount. I don't pay CGT unless absolutely necessary. If I had just wanted a long term holding I could have bought at 0.55, but that locks money away for a long time ( I already have enough of those) and would still have to pay some CGT (even accounting for the 50% long holder discount) when any are sold.
* EBR has and Mcap of 283m. To be included in the ASX300 the SP would need a SP to be north of 2.00 and meet the liquidity requirements. So still in the distance. I will be watching.
* In the current run from 0.53 to 0.92 three unfiled gaps were created 0.61-0.63, 0.655-0.67 and 0.685-0.705. They may remain unfilled however are markers to be watched.
* After peaking at 1.35 to a low of 0.53 is this current bounce to 0.95 a DCB? So far that B-wave bounce got to the 50% FIB, The 61% FIB is at 1.04 and still possible, I have seen it in another stock recently. If in the B-wave of 0.53 to 0.95 then retraces downwards (beyond 61% retracement of 0.53-0.95) to fill the lower gaps 0.615-0.63, 0.655-0.67 I would classify it as a DCB. With my theoretical trading parcel (ASX300) I would be re-buying around 0.62.
* Alternatively this current surge could be considered a new A-wave so a retracement down to say the mid 0.70s and then turning upwards beyond 0.95 would be bullish. So no DCB. With my theoretical trading parcel no re-buy would occur, however I would have sold 40% at 0.84 and still retain 60% of my original buy.
So Immediate short term focus is on those gaps. Q1 2025 is still a year away.
So you see how my investment strategy focussed and is biased.
Your right in suggesting that I should have done some more research on the WISE products, however I am currently seriously watching half a dozen stocks, not a lot of free time.
I think your suggesting that I shouldn't point out the various charting alternatives in my posts. But I thought that's what a charting thread is for.
DYOR
cheers Lies
EBR Price at posting:
92.0¢ Sentiment: None Disclosure: Not Held
(20min delay)
