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Trade Trends with Bollonger Bands and Twiggs Money Flow

SUN - Soncorp

Chart Forum » Stocks - ASX: short term (strictly TA) » SUN - Soncorp

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hershy
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Username: hershy

Post Number: 3284
Registered: 10-2002

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Saturday, February 25, 2017 - 08:55 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)



Hello
I have not posted for yonks and have certainly lost my ken.
If this chart shows a pennant then the target for a bullish breakout is $15.20, right ?




I have found that pleasing everybody is impossible, pissing everyone off is a piece of cake !

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colin_twiggs
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Username: colin_twiggs

Post Number: 2097
Registered: 06-2009

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Saturday, February 25, 2017 - 09:51 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)



A bit big for a pennant Hershy.


My views expressed on this forum do not consider your personal circumstances and should not be considered as financial advice. Please conduct your own research.

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tryhay
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Username: tryhay

Post Number: 1730
Registered: 09-2005

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Hi Hershy,

Sorry to hear about your ken - such is life.

Colin is right, but on the daily the most recent consolidation looks more like a Symmetrical Triangle (not that the nomenclature is that important). If this is a 4th wave correction (E. W. not my forte) than SUN might be expected to break higher. You might have the 'ducks guts' on SUN H but I don't see much point in trading it till PA shows the way.

Daily chart: shows a common consolidation pattern (but seems to have too many waves in it) - Don't loose patience H as one can expect an impulsive move when this breaks

daily

Weekly chart: Suffered in GFC! Wonder if it can get back to $20?

w

BTW Hershy, nice to see you & hope you are well.

(Message edited by tryhay on February 25, 2017)







Happy trading DYOR


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tryhay
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Username: tryhay

Post Number: 1753
Registered: 09-2005

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Tuesday, March 21, 2017 - 06:45 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)



Did you buy in H?

This looks like read it & weep time for SUN; may well be worth an initial position long (say using SUNSSX) before flipping short.

Daily chart: Looks to have respected support @ $13 & should pop back towards resistance. That should complete the pattern (not sure if it will be the long term consolidation (from 2014) or (the shorter term flag/pennant) ....

daily

(Message edited by tryhay on March 21, 2017)


Happy trading DYOR

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