I often find all manner of reference to Technical Analysis whilst reading threads, questioning certain elements, asking for advice on indicators and also requesting advice on a stock and whether it's a good time to buy, sell, hold or remain indifferent. I am the first to admit that my own TA is still in its infancy, but I do spend time on expanding my knowledge (hopefully in the right direction!).

Rather than having to ask a TA question on a particular thread, perhaps this thread could be used as a forum for TA queries and become a knowledge base. Just a thought, if there is little or no interest, the thread will sink without trace and that will be the end of that. I will personally add a few snippets to help those with less knowledge (if that's possible) to keep things rolling. There is a danger that the thread will receive countless requests for opinions on a variety of stocks and there is only so much I can do alone, therefore I would more than welcome input from other posters, no matter how rudimentary they believe their own knowledge to be, hopefully some real experts will take the time to contribute.

Darradev, for someone who isn't into the 'jargon' of TA you are doing a good job - 'repeating wave patterns' no less. I will have a look at the thread, thank you.

pth

I'm a relative 'youngster' at stock picking but always looking to learn. Noticed your post on the OEX thread, looking for a quick update, the latest information (June 2007) can be found on http://www.oilex.com.au/

Many thanks Darradev, appreciated :)

oops, wrong thread :S

Personally, I'm quite partial to a Bollinger Band or two.

Time for some evening updates, starting with TAN.

Once again had a go at the elusive 200p and once again fell back. The SP has nearly fallen out of the bottom of the steeper channel, but perhaps a bit close to call. If there is a further dip rising support is now at 188p, so not much to be gained from trading in and out unless that particular level fails in which case I would keep a close eye on 180p and then 170p. RSI remains in its channel, the only indication of downward pressure would seem to be the MACD continuing its slow trundle downwards.

pth

I mentioned on the WNG thread earlier that the RSI had posted a confirmed buy signal due to a failure swing (if you wnt an explanation go back to the beginning of the thread. Essentially the RSI made a higher low today. Certainly anyone wanting to get in should do so with a certain amount of caution and I would set a stop loss in the region of 90p. Personally I would also like to see the RSI break through the downtrend resistance. Keep an eye on the chart, the downtrend may cause a few stutters if it does continue to recover and there are more downtrend lines to break through after that.

pth

My original analysis of SOLA predicted the SP sliding along the middle downtrend line and intitally this is what happened. Friday gave me pause for thought as it appeared to have broken through rising resistance. However, today has seen the SP dip below this line once more, although not in a conclusive fashion. I was curious as to why the SP bounced at 510p and looking back it's pretty obvious, I should have drawn this SP support line from the outset (der). MACD conitunes to turn up ansd the RSI is now sitting on what was a res line but now may become support. For what it's worth the SP is now sitting on the 50MA which may provide additional support. I wouldn't go long or short on this chart today, but as a holder I would wait for further direction before making a decision. Not much help I know, but it's not always clearcut :S

pth

I posted last ime around that I had changed my view on SCHE; I still believe it's a short waiting to happen, but from what level? Still room on the MACD and RSI for a further rise and now it seems to have found a footing above a resistance line (now support) and back in its channel (just above the lower trend line) it may well have a go at 600p. This might be the level from which to short where it meets the upper resistance of the channel, a seperate rising resistance line and the physcological 600p barrier.

pth

Maggie's I believe - EMG

640p proved too much of an obstacle today, coinciding with a bounce off RSI res, so not unexpected. I think I have spotted a different channel (white dashed lines)to the one previously drawn. This would appear to suggest that any downside is limited to that previously thought, so if there is a continued fall, 600p may well offer some support, rather than 575p.

pth

MLR bounced off its rather steep trendline intraday, but there is certainly weakness as demonstrated by a break to the downside through the RSI support. Still expecting a fall to 12p during the weeks ahead.



COH chart is not pretty, fell through two support levels today, MACD has crossed down and I'm afraid somewhere in the region of 34p looks on the cards, unless something happens rather quickly to give the SP a much needed lift.

Thank you, exactly what I said here earlier today on both.

Thanks PTH I continue to watch and learn.

Thanks PTH , can you show rgm and let me know how this looks .

one of you swing failures on the ftse100 but would not read too much into it cos we,re chained to the DOW at the mo

md

Haven't looked but works best when below 30 above 70. I wouldn't rely on it at all anywhere between.

pth

you are right but you can draw a nice straight line acroos the tops of the rsi , if it was not a big results week in the US might have taken a short on the ftse

Does it indicate anything if the RSI is trending down but the sp is trending up? Please! Think I have read something about that on the thread but can't find now so forgive me if you have to repeat will read carefully this time. EMG down another 14 today am watching for support to kick in so far you (and me too )'ve got it right :o))))

Maggie, any indicator that is trending in one direction whilst the SP is heading in the other is termed divergence. You can have Bullish and Bearish; for instance if you can draw a downtrend across the top of the RSI (like EMG) whilst the SP is heading North you have bearish divergence, a possible sign of weakness and that at some point there may be a correction to any previous rise. In EMG's case it wouldn't be that pronounced were it not for the fact it did seem to get ahead of itself in February. Actually, you can also draw an uptrend on the RSI for EMG (I'll do that later), which would suggest that the SP is in consolidation mode of a sorts.

I take it you took profits further up, so well done you :))

Must say this looks like a cracking trading share :))

pth

Edit: I have edited this post in view of the following updated chart.

Hi Maggie, just updated the chart; I have drawn in the SP support level at 600p, which you can see acted as pretty robust res in Feb, May & Jun before the breakthrough. Now this res should have become pretty good support but has failed on two occasions since. Theoretically it should have, but didn't so I would treat this level with some suspicion. If the SP is in this new channel (white dashed lines) then immediate support in trend world is at 592p ish. It may be that there won't be too much movement tomorrow or the day after in which case this support line, the 50MA and 600p will merge offering a much better platform for the next leg up. I have also added a RSI uptend support line, keep an eye on this as any fall through here will indicate further weakness and a possible return to the shallower channel with associated lower rising support. If everything holds think I would be looking to go long Thursday or Friday from 595p - 600p, could all have changed by then though :)

pth