Guy's Ireally wasn't gonna buy into this one, but it is important to keep it straight. Ajax I think Stocky is refering to the need of fertilizers and why we need them. Stocky keep to the point buddy,and don't allow emotions in.
Ajax, using a daily chart will only give you a micro view. Since you are a chartist perhaps you'd like to stick some support and resistance lines in there. Perhaps also you will notice that the really long up trend line you have there,even though drawn incorrectly, has NOT been broken so therefore the overall up trend is still intact. Perhaps you may remember myself and others calling support between 90 and 95 cents. Perhaps you will notice also that the whole ASX is down. You may also remember a whole bunch of investors buying in recently from a certain recommendation. Quite a few of these kinds of investors have no idea about the market and sell as soon as it retraces, not all of those calls continue upwards, look at CCC. Do you know what rules are involved to be able to draw a correct trend line?
All I am saying Ajax is what exactly does your chart say?
You have 4 lines, 1 is the overall long uptrend,2 is a sharper upward move, 3 cuts through the upward move to pick up half a dozen down bars and your 4 line is showing a few cents from the previous top. So when I see you chart I presume you use the Macd to trade,these again are known as lagging indicators and are re known for false signals from my limited understanding. Sorry if I miss read your chart mate just trying to make sense of it with my limited chart knowledge. Thanks in advance for your explanation.
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