The a2 Milk Company Limited (.NZX) | 18/07/2018 | 1 Year, Daily Chart
$15.00
Gap down in stock price in
basing period suggests that
$13.00
Positive price action in the
$11.00
base period with a buyable
gap up following
Stock clearly over
extended after great run
$9.00
$7.00
Stock finds support and holds the gap up
in price from February. This suggests that
there is underlying buying support for the stock
$5.00
$3.00
17/07/2017
14/08/2017
11/09/2017
9/10/2017
7/11/2017
5/12/2017
8/01/2018
6/02/2018
6/03/2018
8/04/2018
7/05/2018
5/06/2018
3/07/2018
Technical Summary: The stock of has been one of the best performing stocks in the history of the NZX. Most of this
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performance has occurred over the last five years when the stock moved from insignificance to highs of above $14 per share.
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5 Year Chart
This action has continued for most of the last year with the stock moving from $4 per share. The stock recently has been
10
consolidating some of these gains and appears to be forming a base. Long term holders are probably patient enough at this stage
8
to sit through this period but at the moment it is not providing a technical buying opportunity for new entrants. From a technical
6
perspective it is pleasing to see the stock find buying support and holding the gap up in the stock price from February.
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