Yes, thank you again and valid points, also being the 78/75...

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madmacs

25,374 Posts.

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13/12/16

11:16

Post #: 21295106
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Originally posted by TheArchitect ↑

Yep 8c is first support line and has held up very strongly, the next support level which it bounced off yesterday is 7.8c with the lowest base support base at 7.5c which was a previous support level.

Given a massive deal is coming and smoke signals from other factors coming in there's no likely chance of a drop, if there was however it will still remain in the Channels I noted that have remained strong for over a year of trading in IAM/SRT. With the furthest it would fall is 7.5c where it would be in the Oversold territory of the Trading Channels. This would only occur if the deal expected in December is pushed to February which has been stated is a possibility, but no reason for it to not happen now.

Up to the board of who ever the deal is being done with; might be NAB, CBA, AMP, MLC, Westpac there are only about 6 planners bigger than Sentry from memory.

That's the danger in a stock like this going solely on technicals. I'm not up over 750% on my first entry because I relied just on the technicals for IAM.

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Yes, thank you again and valid points, also being the 78/75 channels and prevailing fundamental impetus,
I was only suggesting the tight stop as it is a personal bias given my lack of fundamentals savvy..there may well be more volatility in it.. without being whipsawed out of further major gains... cheers

IAM Price at posting: 8.1¢ Sentiment: None Disclosure: Not Held
2 Upvote

0 Great analysis

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