Media Releases, page-673

Just in case people are wondering. Raj is angry at Dyno and has managed to find that the technicals for FEX on an hourly chart are showing more sell indicators than buy indicators. The equivalent technicals on the daily, weekly and monthly charts look absolutely fine. You can pretty much ignore the hourly and other time periods (1 minute through to 4 hourly) unless you are a day trader. Also, these tools are too simplistic to be useful in most circumstances - although they can be good for quick and dirty TA (e.g. when used in stock scanner queries) and are possibly better than nothing.



More importantly, the simple daily chart for FEX is one of the best looking charts on the ASX. The best charts look like a staircase with dramatic moves up followed by periods of consolidation (which don't extend for too long or retrace too much - this is indicative of weakness). Having rock solid technicals is not one of our problems.