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TESS - What is the chart pattern?

+8
GJ
smallville
gann
tubal
Slstock
invest-abc
watcher
m2_yapa
12 posters

Go down  Message [Page 1 of 1]

1TESS - What is the chart pattern? Empty TESS - What is the chart pattern? Fri Jul 01, 2011 10:33 pm

m2_yapa

m2_yapa
Senior Manager - Equity Analytics
Senior Manager - Equity Analytics

Is this carrying any massage?[You must be registered and logged in to see this image.]

2TESS - What is the chart pattern? Empty Re: TESS - What is the chart pattern? Fri Jul 01, 2011 11:07 pm

watcher


Equity Analytic
Equity Analytic

Forgive me for my ignorance, but how exactly does a "Cup with a Handle" work?

3TESS - What is the chart pattern? Empty Re: TESS - What is the chart pattern? Fri Jul 01, 2011 11:42 pm

invest-abc


Manager - Equity Analytics
Manager - Equity Analytics

People who follow this pattern I think would ideally look for a less steeper handle. Here the handle seems to be pretty steep even nearing the base of the cup. According to William O'Neil's interpretations - "The handle represents the final consolidation/pullback before the big breakout and can retrace up to 1/3 of the cup's advance, but usually not more. The smaller the retracement is, the more bullish the formation and significant the breakout." Also, need to closely monitor the volumes. Volumes would have to increase significantly for the breakout.

4TESS - What is the chart pattern? Empty Re: TESS - What is the chart pattern? Sat Jul 02, 2011 3:10 am

Slstock

Slstock
Director - Equity Analytics
Director - Equity Analytics

invest-abc wrote:People who follow this pattern I think would ideally look for a less steeper handle. Here the handle seems to be pretty steep even nearing the base of the cup. According to William O'Neil's interpretations - "The handle represents the final consolidation/pullback before the big breakout and can retrace up to 1/3 of the cup's advance, but usually not more. The smaller the retracement is, the more bullish the formation and significant the breakout." Also, need to closely monitor the volumes. Volumes would have to increase significantly for the breakout.

Yes strictly on technicals what you say it correct and your post I like.

Sometimes when observing I make little adjustments to accomodate for the CSE factor which does not strictly follow the more stable market interpretations or situations. I am not taking about TESS pattern .
Wonder what Bill O'Neil would say if he was at CSE .



Last edited by slstock on Sat Jul 02, 2011 6:49 am; edited 1 time in total

5TESS - What is the chart pattern? Empty Re: TESS - What is the chart pattern? Sat Jul 02, 2011 6:47 am

tubal


Vice President - Equity Analytics
Vice President - Equity Analytics

Cup and handle my foot! that's a double top.

6TESS - What is the chart pattern? Empty Re: TESS - What is the chart pattern? Sat Jul 02, 2011 10:07 am

gann

gann
Senior Manager - Equity Analytics
Senior Manager - Equity Analytics

in these situations wait for a recovery and study the amount of recovery and the pullback after the recovery. recovery should be on higher volume and good momentum. on the pullback, price should be able to hold the gain with lower volume.

out of 180mil shares 50% is owned by the public. looking at the recent volumes we can safely deduce that a major portion was dumped above 3. This looks like the top. so beware. I would not enter now unless to make a quick buck. as tubal pointed out could turn out to be a double top if the next minor rally fails creating a head and shoulder pattern. I would enter if this stocks pass 3.50 and make a minor 12.5% -25% pullback and go.




Last edited by gann on Sat Jul 02, 2011 11:39 am; edited 2 times in total

7TESS - What is the chart pattern? Empty Re: TESS - What is the chart pattern? Sat Jul 02, 2011 11:31 am

smallville

smallville
Associate Director - Equity Analytics
Associate Director - Equity Analytics

This aint a cup n a handle cuz the cup pattern is almost visible but the handle is too long on down trend..

Looks like a Double bottom but it aint a double bottom either..
One support level is at 2.5, which was evident from previous downtrend from Feb- Apr and the resistance level is at 3.20 was met in May.
Then it came down to 2.7 level support and went on a high passing previous resistance at 3.2 and caught up the selling pressure at 3.8.
Then what happen? A steep down trend to 2.8.

But for the same explanation, this looks to me as of a double top, why? one High is at 3.5 and the next up trend high was at 3.8 and also the next day at 3.5.. so we have double highs
in between a low at 2.5 and 2.6.. So Tubel is correct as I see it Wink

Now I think this can be traded in 2.8-3.0 level for the next couple of days and fall back to 2.6-2.8 again before it could move up or down..
Mind you double top is not a bullish trend..

8TESS - What is the chart pattern? Empty Re: TESS - What is the chart pattern? Sat Jul 02, 2011 11:47 am

m2_yapa

m2_yapa
Senior Manager - Equity Analytics
Senior Manager - Equity Analytics

Every body!
thanks for your valuable views on this regards. Considering this graph i thin it is forming another cup with a handle. (May be double bottom) volume is the main factor. I dont think that i can 100% correct.
But it will a climb with their growth in this year...it will be the key factor....we may have to wait another 6 to 9 months for the breakup!

9TESS - What is the chart pattern? Empty Re: TESS - What is the chart pattern? Sat Jul 02, 2011 12:01 pm

gann

gann
Senior Manager - Equity Analytics
Senior Manager - Equity Analytics

Cup and handle is effective only after a selling climax not at a major top lol!
Little knowledge is dangerous.

10TESS - What is the chart pattern? Empty Re: TESS - What is the chart pattern? Sat Jul 02, 2011 1:45 pm

GJ


Manager - Equity Analytics
Manager - Equity Analytics

Last two Revenue Net Profit EPS
Half (m) (m)
31.03.2010 415 12.00 0.067

30.09.2010 645 14.00 0.078

31.03.2011 306 6.2 0.035

Year EPS 0.113

They issue their report two time a year so, next report will be issued 31.09.2011

Earnings / (Loss) per Share

0 .103 (2010.03.31)
( 0.057) (2009.03.31)

52-Week high/low 3.80 - 2.10
Shares (m) 180

Sector: trading
According to market theory market price is
0.113*20

2.26


The company is continuing to promote its
products in the US and Canadian markets
despite the set back on Sri Lanka losing the
GSP plus tax benefit in the European Union.

Nature of Business

Agri Business
Long and bottom line fishery
Frozen Foods
Engineering


TESS (PRIVATE) LIMITED 77,959,525.00 43.31%
2 TROPIC FROZEN FOODS LTD 5,955,550.00 3.31%
3 THURSTAN INVESTMENTS LTD., 3,368,750.00 1.87%
4 MERCANTILE INVESTMENTS LIMITED 4,929,200.00 2.74%
5 WALDOCK MACKENZIE LTD/MR.S.A.GULAMHUSEIN 2,845,350.00 1.58%

thanks for negative rep,
This is my opinion



Last edited by GJ on Sat Jul 02, 2011 3:22 pm; edited 1 time in total

11TESS - What is the chart pattern? Empty Re: TESS - What is the chart pattern? Sat Jul 02, 2011 2:13 pm

StocksWatch


Assistant Vice President - Equity Analytics
Assistant Vice President - Equity Analytics

gann wrote:Cup and handle is effective only after a selling climax not at a major top lol!
Little knowledge is dangerous.

Very much true gann. The handle should be formed by the selling pressure of those who bought the share at and around the previous high. Also the handle should not be too deep and ideally be in the top half of the cup formation.

12TESS - What is the chart pattern? Empty Re: TESS - What is the chart pattern? Sat Jul 02, 2011 3:26 pm

gann

gann
Senior Manager - Equity Analytics
Senior Manager - Equity Analytics

StocksWatch wrote:
gann wrote:Cup and handle is effective only after a selling climax not at a major top lol!
Little knowledge is dangerous.

Very much true gann. The handle should be formed by the selling pressure of those who bought the share at and around the previous high. Also the handle should not be too deep and ideally be in the top half of the cup formation.

If you look at the hidden fundamental side of it... as pointed in my previous post, when a major portion of the available stocks have been traded around a certain price level implies dumping... ie many previous owners have exited

13TESS - What is the chart pattern? Empty Re: TESS - What is the chart pattern? Fri Jul 08, 2011 4:05 pm

mcyi9rt4


Senior Equity Analytic
Senior Equity Analytic

dear sir how do i obtain such the graph you have put????????

14TESS - What is the chart pattern? Empty Re: TESS - What is the chart pattern? Fri Jul 08, 2011 4:46 pm

Akalanka

Akalanka
Manager - Equity Analytics
Manager - Equity Analytics

mcyi9rt4 wrote:dear sir how do i obtain such the graph you have put????????

its bloomberg
http://www.bloomberg.com/apps/quote?ticker=CSEALL:IND

Very Happy

15TESS - What is the chart pattern? Empty Re: TESS - What is the chart pattern? Fri Jul 08, 2011 5:06 pm

player

player
Moderator
Moderator

hay this is a bleeding market,go for fundamentals and hold without searching trends,no trend is survive in such rainy markets ...
btw tubal was correct,its a double top..

just my idea Very Happy

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