Ashtead Share Discussion Threads

[disc0dave46] 20/3/2024 12:31

Any reason out there for the share price action this morning?, can't see anything (UK CPI hasn't really moved the indices).

[palwing32] 20/3/2024 11:01

Thanks Bracke. After the recent share price improvement, I am no longer sure if a rectangular bottom is affecting the wedge or the wedge is creating a rectangular bottom. I may have to make an appointment with my GP to discuss. Either way, it all seems to be positive. GLA.

[bracke] 12/3/2024 15:17

"The US indices all dropped…..well for the first 30 minutes or so anyway!, lol."
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A bear trap for the uninitiated.

[disc0dave46] 12/3/2024 14:04

Good day Mr b"The CPI didn't make any difference"The US indices all dropped.....well for the first 30 minutes or so anyway!, lol.Have a good one.

[bracke] 12/3/2024 13:57

Good day disc0

The CPI didn't make any difference. The only thing the market is interested in is a rate cut.


Good day palwing

A wedge is a standalone pattern. The s/r has formed what Bulkowski names a Rectangle Bottom (no rude comments please). Currently the 'Big Wedge' remains in 'play' but when the wedge is broken to the top or bottom the Rectangle Bottom comes into control.

I appreciate that many will consider all this TA 'Mumbo Jumbo' is a load of 'tosh'. It's just a method of describing price action as a means of deciding when to invest/trade.

[palwing32] 12/3/2024 12:56

Can the high and low breakouts be considered for a redefined top and bottom of the big wedge, in effect elongating its time line?

[disc0dave46] 12/3/2024 12:53

Good afternoon Mr bGuess the US CPI will dictate once again.

[bracke] 12/3/2024 12:10

Viewing the weekly chart shows that the 'Big Wedge' has been broken to the downside and to the upside but was unable to maintain momentum in either direction. Why?

Support at 4400 and resistance at 5790 have been strong and held the share price in that range for a year. Watch for a break AND a close outside of the range.

AHT WEEKLY

[palwing32] 11/3/2024 12:04

Today's tongue twister...Big wedge bottom bounce bargain?

[disc0dave46] 08/3/2024 13:40

US Jobs 275k (forecast 200k) and Jan number reduced significantly, unemployment up to 3.9%.

[casket1] 08/3/2024 13:24

You're level of analysis is mind blowing, must have taken you all of 15 seconds (so nothing new there then)

[trt] 08/3/2024 13:10

As mentioned previously £45 looking likely now.

[bracke] 08/3/2024 12:13

The share price is certainly 'taking a pasting' currently and has broken through the 50% Fib.

The share price is heading to the 38.2% Fib which coincides with the lower trendline of the Big Wedge. In addition the RSI is nearing its baseline. Putting the two together suggests the 38.2% Fib at 4955 is possible support.

The fall since the results appears overdone. As far as I can ascertain there has been no increase in shorting since I last mentioned it.

AHT DAILY

[perfido] 07/3/2024 20:46

... Or trt you could just have another wildly unfathomable guess..?

[disc0dave46] 07/3/2024 20:05

Thanks Mr b for your analysis.Trt is just a wind up merchant, nothing more.Can't take anyone seriously whose favourite line is "got to be in it to win it". Classic, is that one of Buffetts?.

[bracke] 07/3/2024 19:08

"25 to 1 against bracke geting a sensible answer from trt
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I am not expecting one.

Purely in the interest of fair play let us consider that trt is a closet chartist. I will attempt to consider his reasoning...yes he may have one so no booing and laughter.

Looking at the chart we see that the share price dropped from 5794 on 09 Aug 2023 to 4437 on 20 Nov 2023.

On 01 Mar 2024 it reached 5786 i.e.8 points lower than the previous 5794 major high. From where it has dropped to 5054 today (07 Mar 2024). Without going into a lengthy description of price action between the Aug/Nov and Mar/Mar comparison I draw attention to the S/R zones.

The share price needs to break and hold above the 61.8% Fib at 5276 to indicate buyers moving back in. If the share price drops and closes below the 50% Fib at 5116 it will indicate sellers still in control.

trt I do hope I have understood your reasoning although I think you are 'front running' too far at this stage of the price action. Perhaps 4950 would have been a more prudent consideration with the possibility of 4750 if 4950 fails to hold.


AHT DAILY

[perfido] 07/3/2024 18:04

Lol! I'm prepared to open a book on this -
- 25 to 1 against bracke geting a sensible answer from trt

St Jude, patron saint of lost causes might be trt’s last resort ?

.

[bracke] 07/3/2024 16:54

Good day trt

"£45 looking likely now."
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If it is you should be suggesting £44 that's where the support would be if £45 was reached.

[perfido] 07/3/2024 15:39

Hi Disco,

You're right.

More like mice 46, trt 0 including todays feeble utterance

Get a life trt!!

P.S. 'trt' In all sincerity take a tip - Better to remain silent and be thought a fool than to post rubbish and remove all doubt - with apologies to Mark Twain
.

[trt] 07/3/2024 15:07

£45 looking likely now.

[disc0dave46] 07/3/2024 13:33

Good day Mr bRe that Prechter video, mmmm, interesting but will admit I sort of switched off after about 21 minutes when he predicted based on operating cycles that we could get a crash this year similar to 2020 (Covid induced crash which according to stats now has a 2% probability of occurring again). Can't see that tbh. He's predicting a 30% market reversion this year and again I can't see that happening - TA aside what could realistically happen on a macro perspective to cause that?, inflation going back up?, possibly but the odds seem stacked up against that, WW3?, again not unrealistic but not too likely either (my glass half full thinking!).Whilst he called the 1987 market crash (Black Friday), did he call correctly: 1989 Friday 13th, early 1990 crash, dot com 2000, financial 2008, Covid 2020?.