7058 replies to this topic

[davidp13]

Hi Guys
 
Since there is so much hype around shorting SHP, I decided to have a look.
 
I am no expert when it comes to analysing charts, google is my best mentor. (http://thepatternsite.com/st.html)
 
However, when I look at the chart it seems as though we have a long term symmetrical triangle which indicates a continuation of the prevailing trend.
 
Then what we have on the short/medium term is a downward channel of which we are on the upper level.
 
My question is, is my assessment of the chart correct and should we break and close above the upper downward channel, could we see SHP rally to new highs?
 
Thanks.

I mentioned about 2 days ago that just shorting all the stocks because they have run hard is not a good idea - whl today was an anomaly today due to news. Also said the wedges/triangle formations all over the place leads often to continuation. So agree with you. VOD is a good example.

[gamma]

Hi Guys

 

Since there is so much hype around shorting SHP, I decided to have a look.

 

I am no expert when it comes to analysing charts, google is my best mentor. (http://thepatternsite.com/st.html)

 

However, when I look at the chart it seems as though we have a long term symmetrical triangle which indicates a continuation of the prevailing trend.

 

Then what we have on the short/medium term is a downward channel of which we are on the upper level.

 

My question is, is my assessment of the chart correct and should we break and close above the upper downward channel, could we see SHP rally to new highs?

 

Thanks.

 

Its a reasonable analysis but for me I'm looking more at horizontal support/resistance than channel. That break back through the 160 resistance is important. I would expect a pullback to that and should it bounce and confirm 160 as support then that would be a good entry to go long. A fail at 160 would trigger a sell off.

[UpAnDdOwN]

Hi Guys

 

Since there is so much hype around shorting SHP, I decided to have a look.

 

I am no expert when it comes to analysing charts, google is my best mentor. (http://thepatternsite.com/st.html)

 

However, when I look at the chart it seems as though we have a long term symmetrical triangle which indicates a continuation of the prevailing trend.

 

Then what we have on the short/medium term is a downward channel of which we are on the upper level.

 

My question is, is my assessment of the chart correct and should we break and close above the upper downward channel, could we see SHP rally to new highs?

 

Thanks.

Attached Files

•  SHP Chart.jpg   134.08KB   11 downloads

Edited by UpAnDdOwN, 09 April 2014 - 07:55 PM.

[Ninja]

Closed out all my woolies shorts today .... Now shorting shp... Till the moola comes home

[delta66]

placed order shp short 170..(at least i'll have company in misery should this go south )

 

filled @170 on auction.

[WINH]

I can see people are making money these days... as for me, i'm having an audit at work this week, so very minimal trading for me!.... One big reason for me to retire soon!

[Zero Hedge]

Thanks ZERO HEDGE

Frankly I was hoping that the rights issue pushes them past the 91 % for a mandatory offer that could see the price being 4-7% above current price and on a CFD geared basis that simple income.

Keeping my money in my pocket. Needed the sober word. Thanks.

Market ran so hard starting to scrounge for trades likes a bottom feeder.

I only trade CFD's but I am backing myself to find more juicy opportunities than JDG given the current volatility in markets...

[Bcallison]

Finally financial services took a knock been waiting, has anybody notice when naspers up financials are down and when naspers are down financials are up, probably moving the billions throughout different sectors

[delta66]

big numbers, big players

[Zero Hedge]

flip of a coin trade Zero..tomorrow's price action will be revealing

 

i'll average down around 64-65 if we see that

Pretty sure it will open down again tomorrow morning but selling will then exhaust itself during the course of the day...massive volume going through today

[delta66]

damn..brutal action on woolies..cant resist adding another chunk, order in @67.00

[delta66]

Yanks clearly not liking the Woolies/David Jones deal but I am starting to nible here...next stop 66!

flip of a coin trade Zero..tomorrow's price action will be revealing

 

i'll average down around 64-65 if we see that

[Zero Hedge]

Took a long on Woolies @ 68.22

Yanks clearly not liking the Woolies/David Jones deal but I am starting to nible here...next stop 66!

[Eagle7]

Thanks ZERO HEDGE

Frankly I was hoping that the rights issue pushes them past the 91 % for a mandatory offer that could see the price being 4-7% above current price and on a CFD geared basis that simple income.

Keeping my money in my pocket. Needed the sober word. Thanks.

Market ran so hard starting to scrounge for trades likes a bottom feeder.

[Bcallison]

Going to milk remgro!!!!!

[delta66]

placed order shp short 170..(at least i'll have company in misery should this go south )

[Rookie16]

Took a long on Woolies @ 68.22

[Hooligan]

nice one bro, positioned accordingly on entry giving yourself plenty room to buy back .. my tp is around 5% return

Same not looking for much, sell order already in @71

[Bcallison]

adding another 500 cfds to short remgro at 205.50 

[delta66]

I will join, in at 68.30.

nice one bro, positioned accordingly on entry giving yourself plenty room to buy back .. my tp is around 5% return