Like most others on this forum, have been thinking a lot about SP. Came across an interesting pattern called a cup and saucer - actually they were talking about it on Fast Money last Friday. The below shows what I think is going to happen (im no TA, but looks obvious to me). The main variables are:
- If A2M meets forecasts, below cup and saucer pattern will hold true
- If we get an earnings upgrade, then big spike in SP, maybe $2.5-$2.6
- If A2M does not meet targets, then back to $1.5
However, global markets will have an impact. Monday will see a positive rise in the SP from US on Friday, prob kick it back over $1.7-$1.75. US markets closed on Monday so at least Tuesday will also not be influenced, so market will likely determine price - expect huge volumes IMO. Finally, Wednesday; which will be influenced by US Tuesday market and I think they will be up as there is talk about cementing no more rate hikes in the US this year which will provide a strong relief rally. This all leads to a *strong* setup - looking at past financial ANN, they are released at 7:30am. The stronger the lead up, the stronger the price rally (assuming A2 milk are performing as expected which im confident they are).
Anyway, good luck to all holders - this cup and saucer trend for me is now making more sense and quite excited about Wednesday! Tho, looking at the trend, holding on for a couple of weeks after this may lead to far greater returns - time will tell!
Source :
http://www.investopedia.com/university/technical/techanalysis8.asp
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Open | High | Low | Value | Volume |
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No. | Vol. | Price($) |
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1 | 6450 | $6.21 |
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Price($) | Vol. | No. |
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3 | 12339 | 6.180 |
3 | 36475 | 6.170 |
3 | 19599 | 6.160 |
3 | 10039 | 6.150 |
Price($) | Vol. | No. |
---|---|---|
6.250 | 4409 | 3 |
6.260 | 9641 | 2 |
6.270 | 11544 | 6 |
6.280 | 31500 | 2 |
6.290 | 8157 | 3 |
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