Positives for SWM during Covid, page-7

The chook,

Swm entered downtrend on

15/11/19 after failing resistance at 44c, it continued this down trend to 4/2/20 to 23c. Phase 1

Cause to fall: 13th Nov announcment ebit would be lower end of fy 20.

It held this area 4/2/20 to 17/2/20 with 23 to 26c as range. Phase 2

17/2/20 it failed 26c resistance, it continued this down trend to 23/3/20 to 7c. Phase 3.

Cause to fall: 18th Feb half year result ebit down 20%.

This announcment is odd because swm failed resistance before the announcment, whilst the Nov one, it failed 2 days after it. Ie the market new before hand.

Based on the announcment dates, content and chart changes swms fall is result based, not corona virus related at all.

I won't go into more recent, but uptrend started 2/6/20 when the 11c resistance was passed.

11c was the signal to trend change because on 15/4/20, 11c was resistance and failed whilst this time cracked it easy.

Cause to rise: I believe afl negotiations. They started appearing in papers around 2/6 when swm surged toward 11c.

There has been a news trigger to each move with swms price.