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Eircom Holdings(ERC)

Chart Forum » Stocks - ASX: short term (strictly TA) » Eircom Holdings(ERC)

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baggus
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Username: baggus

Post Number: 7
Registered: 04-2009

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Tuesday, June 16, 2009 - 06:18 pm:Copy highlighted text to 'New Message' boxEdit Post Delete Post Print Post    View Post/Check IP (Moderator/Admin only) Ban Poster IP (Moderator/Admin only) Move Post (Moderator/Admin Only)



I like the look of the Chart for ERC and wondered if anyone else on this forum was watching it as well but knew a little bit about the company or maybe any recent events.

Technically, it looks very encouraging as it is holding onto a very clear uptrend channel, is very well bid and proved very resilient to today's negativity. The chart below shows the channel I am referring to but does not include today's interesting action(again finishing on its high after early weakness). The orange horizonal line represents the 50% retracement form its July 08 high.

Appreciate any comments and/or views.

Baggus




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jimmyswell
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Username: jimmyswell

Post Number: 322
Registered: 07-2006

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Wednesday, June 17, 2009 - 10:37 am:Copy highlighted text to 'New Message' boxEdit Post Delete Post Print Post    View Post/Check IP (Moderator/Admin only) Ban Poster IP (Moderator/Admin only) Move Post (Moderator/Admin Only)



Eircom ERC used to be know as Babcock & Brown Capital.
The renaming was probably to get rid of any association with investment companies that were perceived to be responsible for the GFC and B&B was one that was particularly punished.

Back in Jan they shook up the mgmt team and replaced the CEO among others. Since then, they appear to have ridden the tide of the rising market quite nicely.

Looking at the chart, my approach would be to wait for a re-trace back down near the $1.05 support line before diving in. The volume is a bit light for my liking - but that's just one of the criteria in my particular trading plan.


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jimmyswell
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Username: jimmyswell

Post Number: 327
Registered: 07-2006

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Wednesday, June 24, 2009 - 01:26 pm:Copy highlighted text to 'New Message' boxEdit Post Delete Post Print Post    View Post/Check IP (Moderator/Admin only) Ban Poster IP (Moderator/Admin only) Move Post (Moderator/Admin Only)



ERC just went into a trading halt pending an announcement on or before Fri.

The last price at which it traded prior to the halt was $1.11.

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