An opinion on BAA please

[Madog]

Regards once more!

I was a keen follower of CI and have been lost without it. Finally caught up with you again!


I have been keeping an eye on BAA and to me the shares are now looking a good buy from a TA. I would however value the opinion of some of you out there.

Thanks


Madog

 

[Cigar]

Not sure what timespan you're looking at but flip over to 'weekly' data if you can. Thats showing most things pointing downhill.
'Daily' shows rsi and stochs going up so there may be a little short term upside but my feeling is its on a gradual decline. Check daily OBV.. its been in gradual decline for 3 months now.
To get excited, I'd like to see it break the OBV trendline to the upside.

rgds

 

[ChartMan]

I agree Cigar- the price broke out to the downside from a long uptrend starting in late September.As yet, there is no clearly defined trend, except a small short term uptrend, which should find resistance around the 590 mark.

 

[Madog]

Thanks Cigar and Chartman

Yes I was studying the daily charts which as I see tend to paint a slightly different picture to the weekly ones.

Regards


Madog

 

[Madog]

Typical I should have bought a month ago!

With the shares currently at around 675 how much more upside do you think there is? In 1999 there were 'highs' of around 720-740. Is this a realistic target?

An opinion please

Regards


Madog

 

[ChartMan]

Take a look at this chart. It's in a rising trend heading towards resistance, with a target price of 710 ish.Velocity, TCI and CCI all still rising so some milage left in it yet.Candlestick ( not shown) shows some weakness yesterday, but nothing to worry about or to indicate trend reversal.Current price has dropped today from 678 to 671(11:36).Wether you'll get 720/740 or not I can't say, except it would be at the upper end of expectation.

 

[Madog]

Thanks Chartman your views and charts are much appreciated. Ive decided not to buy since there would not be much profit by the time commission is taken out.

As a matter of interest what is the software you are using? Is it suitable for a novice who does not have a lot of time on his hands to understand how it works?

I'm looking for a simple/basic package offering charting and filtering options.

Thanks for your time


Regards


Madog

 

[ChartMan]

It's AIQ and costs around £50 per month to rent. As a casual user I'd stick to one of the "freebie" chart packages.You can get almost the same results from them if you stick to the basic indicators,Trend lines, RSI, Moving averages etc. Won't look as pretty as mine, or be as quick to access, but it won't cost a cent!
And you're right about not much in it, unless you throw 10K at it.......