the a appointment of voluntary administractors???, page-14

Hi all,

To the knockers of technical analysis, please consider the following posts. Please don't take it as bragging, it is certainly not meant to be. It is provided so that some of you might wake up a little, and think first before you perfunctorily criticize, or otherwise express an opinion t/a.


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Posted in ERG thread

by christianp

Cheers Alpha,

---I hope the lights don't go out on SGW either. Nearly spilt my Nescafe when I noticed the fib extension for SGW was at $0.00. Can a chart predict bankruptcy? Dark clouds swirling..

ERG - 33c is still the magic number then, but still not out of trouble if it breaks up through there I would say.

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Posted by AlphaCenturian

..$1.10, then 90c and possibly 55c worst comes to worst.

Actually, speaking of worst comes to worst - its not often you see a stock that trades very very strictly to technicals that has a base line that is exactly $0.00

Just thought I would mention it fwiw, being as how I'm a bit superstitious and all that.....

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by christianp

Sabre, know what you mean about the bad news already factored in. But the chart is telling a big story with SGW. This week's move up to the key resistance at $1.39 and the failure there had all the hallmarks of a suckers rally in a downtrend. We've seen it so many times before, surprise and disappointment during these phases of write down and rationalisation in fallen blue-chips.
I am holding short with a stops in place just above $1.39. Until it moves above this level, the only way is south for SGW imho.