RE:RE:The end of the day will be indicative of tomorrow@red_deer about your question for the close of the day, nothing to say for this particular situation. Here is some interresting information : About the breakouts, there are so many example in TSX, look at LG (LGC capital), one year weekly chart and you will see the breakouts and the large volume (many Millions) that it created. Went from 4 cents to 44 cents and this is an investment company. The first breakout was in June with significant volume. The price/book is at 22 and when you look at AAB it's at 0.629 so it's just a matter of time that things will get fixed. Today was a nice day for AAB and tomorrow should be exciting! It's just starting
That's how I make my money, buy on near end of stage 1, hold on stage 2 and sell on stage 3 and never buy on stage 4....never buy on stage 4 (declining phase). Technical analysis vocabulary.
In stockmarket there is no logic, people are willing to buy stock with P/B over 10,20,50 times the ratio and the main reasons it's because they think it will still go up regardless if the company does or doesn't make money. It's all about supply and demand, so that's why I read the charts because there is logic inside it. It's like reading the chart of an electrocardiogram (ECG), it will tell you the truth, so same thing with stocks. After 18 years of trading that's the best way I found to trade. I use to daytrade (It was crazy!) but I notice I was making more money in the long run with medium term investment (less work to do) rather then short term ones (lots of trading in a day).
Last piece of the puzzle for AAB is the breach of 0.20$ for good....I got a good feeling we are on track :-)
Cheers