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Ausgroup with bullish cup formation, rising bullish wedge n flagpole, could it possibly repeat the previous dotted rectangle.
June 2, 2009 • 9:35 pm
AusGroup 2nd June 2009
AusGroup today traded suspiciously on high volume.
This could signify something might be brewing. Coincidentally, it reached a high of 66 cents, the highest in almost 9 months, before falling back to 63 cents.
63.5 cents will prove to be a tough resistance, which used to be the support level in July 2008.
That could explain its heavy volume. The other heavy volume was also achieved 5 sessions ago when it again crossed the 63.5 cents mark before ending lower.
GMMA still indicate that this stock is still trending well. Therefore, those who can hold, can wait for the final breakout.
Expecting a violent ride ahead.
Filed under:
Technical ,
AusGroup
AusGroup 27th May 2009
Similar to Yangzijiang, AusGroup has a nice trend chart with healthy GMMA spread.
From CBL, stop loss is at 54 cents, which is about 7.5 cents spread from closing price. ; = )
tirami ( Date: 27-May-2009 23:12) Posted:
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so with this news, will it up somemore???
Pls. check SGX anno. Its all there.:-)
anyone knows why its halted now???
my opinion, the current mkt condition provides opportunity for private or institutional investors to invest in co via direct placement of shares.
In this case for Ausgroup, in order for such investors to get in is for existing substantial (big) shareholders like the directors to sell direct to them, in big volume.
The big shareholders will 'eat' up the shares again from the open mkt when such news is announced (which are announced after we hv waken up many mornings later) bcos emotional people sold it in panic.
It does not help when the announcement is titled: 'notice of cessation of substantial shareholding', which sounds negative.. but in actual fact, such announcement made people missed the point that there are big time investors who had invested in a co.
sorry of my layout on the previous post, I'm still trying to figure out how to post here...& there is no option to preview or to edit after posting...
pls, any expert out here pls correct me if i'm wrong...i w'd like to learn.
my ranting...continue...let's say there r 4 group of investors here, pertaining to this round of rally to slide for Ausgroup.
i hope it does not slide further, doesn't make sense.
- emotional people
this people see news but dont grasp fully what is it all about.
- private investors/institutional investors
they want to buy big volume quickly, they can't get enuf from the open market
- directors/substantial shareholders
they already acc a lot at very low price, n now opportunity to make profit one shot, why not, so they sold. the rich get richer
- you & me
stay calm...stay calm.
then when the price is on the slide, the richer buy again... and
the poor get poorer, the rich get richer lah....
This stock has been on the slide after recent rally, and reached low 0.50 today 15May, and closed at 0.515...
The 5 million shares sold by one director on 8May, announced on 13May, was sold to one single investor. Nothing wrong with that news. Some people get emotional again...selling n pushing down the price.
Ausgroup already down to 0.50.... Could the reason be that of the 13May announcement that a director sold 5million shares on 8May? (at the price of 0.60). But if you read carefully, the shares was sold to one single investor. There shouldn't be anything to worry about?
Wow, this stock quietly move with low profile from 3Apr09.
Nobody notice and make big hoohaa !!!
Need to revisit it after May.
Any news on ausgrp anyone? Is it still worth going in?
if it goes back to $2 its a 10 bagger!..
i remembered buyin it when it was 60c..n saw it rise till $2 ..
enjoyed the ride..
hehe im on the spot leh.. nw 0.25 liao, can start to buy again
freeme ( Date: 03-Apr-2009 16:27) Posted:
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Im taking 1st wk of Jan 09 to reference. I think will be pull back to 0.25 awhile consolidation b4 moving higher..
;)
richtan ( Date: 03-Apr-2009 16:12) Posted:
| How did u get 27.5, on the chart I tot the next high (resistance) is 29 on 10/11/0 |
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Good News: Ausgroup & SPC (read SPC thread) both in Natural Gas Biz
From Next Insight:
| AUSGROUP: Gains foothold in LNG sector with A$120m landmark deal |
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Written by Sim Kih
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| Monday, 06 April 2009 |
AusGroup’s Australian subsidiary, AGC Industries Pty Ltd, will provide construction support at Australia’s second largest resources project, the Pluto LNG process facility.
“The contract firmly establishes us as a key supplier to the LNG construction industry in Western Australia, “ said AusGroup CEO, Mr John Sheridan, in a press statement last Friday.
Work will start immediately, with completion scheduled by end FY2010 (Jun 2010). With this contract award, AusGroup’s order book now stands at A$264 million.
The CEO was upbeat that deals related to the Pluto LNG project will help AusGroup to perform well in the current financial year and the next, according to a report by The Edge.
The global economic recession has impacted planned capex in the minerals resources industry as well as the oil & gas industry. Yet, AusGroup is confident that by focusing on its key clients like Woodside and BHP Billiton, deal flow is more stable as projects of global significance such as those embarked on by these resource giants are unlikely to be shelved.
Discovered in April 2005, the Pluto field is estimated to contain 4.4 trillion cubic feet of recoverable liquefied natural gas. Woodside’s $12 billion Pluto LNG Project is scheduled to commence gas production in late 2010.
The project comprises of an offshore platform in 85m of water connected to five subsea big bore wells on the Pluto gas field. Gas will then be piped to shore in a 180-km, 36-inch pipeline.
AusGroup’s scope of work consists of mechanical works associated with the installation of structural steel and process piping, installation of mechanical equipment, pre-assembled pipe racks, modules and structures, testing of pipe work and associated activities.
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AusGroup awarded AUD$120 million Contract for LNG Project
bull just started running?
hope monday it will cheong again!
Happy Weekend Guys!
Based on UOBKH Nexus Interactive chart, tat high should be 25.5 which had been breached, the next high resistance is 29 on 10/11/08
freeme ( Date: 03-Apr-2009 16:27) Posted:
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Im taking 1st wk of Jan 09 to reference. I think will be pull back to 0.25 awhile consolidation b4 moving higher..
;)
richtan ( Date: 03-Apr-2009 16:12) Posted:
| How did u get 27.5, on the chart I tot the next high (resistance) is 29 on 10/11/0 |
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