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First Asset Morningstar Emerging Markets Composite T.EXM.A



TSX:EXM.A - Post by User

Comment by Kruzer70on Nov 24, 2007 11:48pm
229 Views
Post# 13863105

RE: It''''s worrisome when

RE: It''''s worrisome whenI don't know how significant the 0.35 level is. While it has been a recent area of support, it has only been so over the last 3 months. What we need is some news from the company to 'trump the techincals' and generate excitement much as was the case a year ago. The technical structure of the price action is not that great. Looking at a chart covering 1 year or a year and a half you see the appearance of a possible rounding top (or inverse cup and handle) with the last 3 months forming the 'handle'. This would not bode well. Having said all this I don't think TA is all that applicable to these kinds of stocks. While it can be usefull to identify important resistance/support levels (for example I wouldn't want to see us trade below 0.35), TA tends to get trumped by news or expectations of news with these kind of stocks.
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