Bank Of Georgia Share Discussion Threads

[mr_bluesky] 06/10/2012 16:27

I made this chart a few days ago and my comments to go with it where.."This chart shows a break out of the falling wedge,a break over the 50dma and a bull flag set up just over the 200dma.all very bullish signs.it also shows that when the MACD crossed up the break out from the flag happened.i would expect the rally to faulter around the 180p resistence point and set up another flag before the advance again"...update 18/09: well the rally breached 180p and then pulled back below to set up the bull flag that I suggested.it has now broken out of that flag and set the scene for a further trip north.ATB

update 05/10/12:

The chart on CNR I drew yp a few days before i posted it on the 18/09.The 180p resistence was breached.infact it went up to 200p,but then dropped back again.It is now in a period of consolidation at 170.5p.

[mr_bluesky] 06/10/2012 16:20

EME chart: Just drawn this up showing a pot hole.you what? yes a pot hole.Its a bullish formation that,when seen in these circumstances,is very bullish and can lead to some serious gains.It is when a share side ways trades for a few days,suddenly drops down and back up again to resume the side ways trading again before a break out.Glad we cleared that up then! it also shows that the break out happened when the MACD crossed up.This is also a classic bull set up and the time to go long on the trade.The first target to clear is c9.5p and then there is the "biggy" at 10p.when it clears this it gets uber bullish for me.ATB

update 05/10/12:

This chart on EME i drew up on 15/09.Since then a potential bullflag has set up just under 9p.My thoughts on this still stay the same and I would consider making an entry point when 10p is broken.

[mr_bluesky] 06/10/2012 16:09

My chart from yesterday shows a number of positive turn around indicators.PDL has been in a falling wedge since late march and has resulted in a double bounce off the strong historic support of 96p.A break out over 110p resistence will also result in a breakout of the upper wedge resistence and a hop over the 50dma so this will be important for the recovery.The MACD has been trending up and the RSI is also well placed for a breakout,two more bullish signs.Once 110p is cracked then the next target will be the 120's.there was a lot of choppy support on the way down so a break through the 120's and into the 130,s will prove uber bullish IMHO.this will also take the share back over the 200dma and into a longer term recovery mode.My only concern would be if the share price dropped through the 96p support.if this were to happen then the mid 80's could well be seen.

update 05/10/12:

The 110's and the 120's where hit,but it then retreated back to test 110p.I would hope it to resume its course back into the 120's next week.A drop through 110p,however,could well see 96p being tested again,but i favour the advance.

[mr_bluesky] 06/10/2012 15:55

SXX chart: In my previous post and chart I showed the path to 37p and beyond.This chart is to confirm my thoughts and the 37p and beyond could come alot sooner then my predicted December.SXX is currently in a bullflag which set up at a high of 23.5p after a rally that saw it break out of the descending resistence and through the 50 and 200dma on the way.Before the rally my chart shows that a lower low/higher low sp/macd occurred.This is a sure sign that the share has bottomed and the rally that ensued confirmed this.After this lull I am expecting the rally to resume and as early as next week.On the break out of the flag it is in now I would expect the share to go to cerca 33p where another flag is likely to form.....Monday morning may just be the last time you will be able to buy these at this low price! Lets see ;)

update 05/10/12:

The chart on SXX above I drew up on the 27/09 and was a follow up to a previous chart.The share did break out of the flag as predicted but,for no known reason,then retreated back.My views remain unchanged though on the prediction of 37p plus.

update: 28/10/12:

Looks like a bullflag has formed and with the MACD histogram about to go positive again it looks like next week could see a bullflag breakout.SP is currently at 22p.Could be an intresting week.

Mr Bluesky

[mr_bluesky] 06/10/2012 15:44

PGD chart 28/09/12 just thought i would update the chart as i believe it is ripe to pop and bought in today on the strength of that.it is not only in a bull flag,but an ascending triangle.This makes it uber bullish and has a high success rate of break out and soon.having reviced the chart i would expect a breakout to cerca 40p where another flag will probaly set up before further advance...The only thing that could scupper this is a large issue of equity so lets hope they dont do one until after this breaks out as I believe they are looking to raise funds!

Update 05/10/12:

the above chart that I drew up on 28/09 is still valid.It is still in an ascending triangle and a potential bullflag(A flag is not a confirmed one until it breaks out).PGD have alot of projects to fund and like to do so via issue of equity.This is always a concern to me as a trader as a large issue will destroy even the most bullish of patterns.Technicaly chart wise this is looking very strong and I would expect a break out very soon to cerca 40p as a first target.

Update: 22/10/12:

Well the bullish ascending triangle/bullflag has well and truely failed on this one.That is why i always say " a potential bulllag" as it is not confirmed until it breaks out.Getting in to early on a trade is very risky and is far better to miss a small percentage of the rise to make sure that you have read the situation properly.

Infact looking at the last update it would seem that PGD will need to raise more funds for projects.As i said in the first place,the mention or thought of a placing will ruin the bullish pattern and that looks like what has happened.So no mystery why it has broken down.

Mr Bluesky.

Update 26/10/12:

well,well.Yesterday PGD announced a placing to raise over £6m.
As I said,there was avery good reason for the bullish pattern to break down and i suspected it was because of a big placing to come.....IT DID!

Mr Bluesky.

[mr_bluesky] 06/10/2012 10:27

LLOY chart 11/09/12 This chart shows the inverted head and shoulders,the break of the horizontal resistence at cerca 32p and a "golden cross" All very bullish signs.The srtong resistence is at 37.5p and after a I drew up the chart it was broken through and today the share price sits just over 40p.the next strong resistence shown is cerca 47p where i would expect this to rise to,not all in a straight line ofcourse.once that is breached then the next target is to fill the gap in the mid 50's ;)

Update 05/10/12:

My charts drawn on 11/09 shows a possible advance to 47p.since drawing the chart LLOY has set up a bullflag with a high of just under 41p and has back tested the strong support of 37.5p then bounced a little.It is still on track to make the upper 40's,but markets are very jumpy and the slightest thing can effect this more then most shares.

[mr_bluesky] 06/10/2012 10:21

This is an EXI chart i drew up on 11/09 and the comments to go with it....."This chart shows a possible bullflag setting up now as we have come up against resistence at 148p.I would like to see it retrace no further then 129p before making an attemp to break through the first resistence of 148p and then tackle strong resistence at 183p.When we hit this target i expect another bullflag to set up there.The only thing that could scupper this is that it has to break up through the descending resistence line shown on the chart,but I am confident it will do so".....Update 15/09:Well it appears that since i drew this chart that the descending resistence did indeed break and we had a retrace of no further then 129p after the bullflag did set up.I do expect it to have another go at 148p and break through for the assault on 183p...Update 05/10:148p has broken so on to 183p!

[mr_bluesky] 05/10/2012 19:36

I am setting up this thread on this disused board as a record of my thoughts and trades.The reason why I have chosen the name Bullflags & bottoms is because they are two off my favourite trading patterns.Bullflags tend to be the most reliable of all chart patterns especialy when used with a few other indicators to confirm.Also reversal patterns such as double bottoms are very productive to.When you get bottoms and flags in the same formation then things get very interesting.I will concentrate more on posting my charts with comments.I will state where I think the share is going and as I am a momentum trader a vast majority of the charts I will be posting will be of a bullish nature.Also most of my predictions will be of a short to medium term in nature.I do not invest for the long term so bare that in mind when I talk about bullish shares.When I enter a trade I will do so with an exit plan.I may post some of my trades,but I would like this thread to be more about my charts rather then my trades.
I have a number of charts that I have already drawn up and posted on these boards so I may endulge myself with some of those first as they have been pretty successfull in the predictions.When I get time I will post them and anyone should feel free to comment on them on this thread.I will not give advice about investments,only my opinion.I am not qualified to tell people what and when to buy or sell and would not do so anyway.I hope this thread will help to educate people in how important chart patterns are and how to exploit them to financial gain.

Lets see how things go.


Mr Bluesky.

[bogotatrader] 01/9/2012 19:19

Jon....will read your results link to get a feel for the stock which I have started to monitor....

[jon827] 15/8/2012 07:12

Good results?