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Since October 2007, Andean Resources (ASX:AND) has been trading in an indecision chartist pattern. Investors aren’t sure where it’s going. So they’ve built a triangle.
If the price action breaks out the upside line (Chart A), it is a “buy” signal, whereas it is a “sell” signal if the triangle is cleared on the downside (Chart B).
Chart A Chart B
| All Ords | 3513.10 | |
| ASX200 | 3523.20 | |
| NZX50 | 2714.59 | |
| DJIA | 8287.59 | |
| NASDAQ | 1480.04 | |
| S&P 500 | 849.86 | |
| Ftse 100 | 4124.68 |
| Name | Previous Day's Close | % Change |
| All Ordinaries | 3639.50 | - 2.38 |
| S&P/ASX 200 | 3653.00 | - 2.60 |
| Aus Dollar | 64.93 | 0.35 |
| Name | Yesterday's Close | % Change |
| DJIA | 8273.58 | - 2.70 |
| FTSE 100 | 4132.16 | - 2.44 |
| Nikkei 225 | 8522.58 | 0.71 |
| Shanghai | 2030.48 | 2.17 |
| CSI 300 | 1987.22 | 2.19 |
| Gold | 737.09 | - 0.73 |
| Crude Oil (BRENT FUTR) | 55.00 | - 3.71 |
| Symbol | Name | Price | % |
| CCL | Coca-Cola Amatil.. | 9.31 | +12.84% |
| MCW | Macquarie Countr.. | 0.40 | +8.1% |
| ERA | Energy Resources.. | 16.90 | +6.96% |
| BXB | Brambles | 7.99 | +5.27% |
| GMG | Goodman Group | 1.14 | +5.06% |
| Symbol | Name | Price | % |
| AIO | Asciano Group | 1.28 | -17.1% |
| KCN | Kingsgate Consol.. | 2.86 | -15.39% |
| MMG | Macquarie Media .. | 0.92 | -14.82% |
| BNB | Babcock & Brown | 0.41 | -14.59% |
| BBI | Babcock & Brown.. | 0.06 |
-13.44%
|
| Coca-Cola Amatil | CCL |
| Adelaide Brighton | ABC |
| Austin Engineer | ANG |
| Babcock & Brown | BNB |
| C'wlth Bank of Aust | CBA |
| Hutchison | HTA |
| Minara Res | MRE |
| Mount Gibson Iron | MGX |
| National Aust Bank | NAB |
| Date | Release |
| Nov 18 | Aus RBA Board Minutes (Nov) |
| Nov 18 | US Producer Price Index (Oct) |
| Nov 19 | Aus New Motor Vehicle Sales (Oct) |
| Nov 19 | US Consumer Price Index (Oct) |
| Nov 19 | US Housing Starts (Oct) |