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GreatPig
14th-July-2005, 08:35 AM
Looks like a large double top forming.

GP
RichKid
14th-July-2005, 01:10 PM
Interesting, there are some other ASX200 stocks which I have seen forming double tops recently, maybe a sign of a big reversal in the ASX this month or early next month? Looks like a double top in the XJO.

UTB broke it's uptrend line this year too, as you show, after a strong run with the rest of the bulls.

Tech had a look at UTB for an options play recently too: http://www.aussiestockforums.com/forums/showthread.php?t=1390&highlight=utb
Knobby22
14th-July-2005, 03:45 PM
It's caused by the tempoary dip we had around May. A market thing rather than a stock thing.

You tech guys should be looking at the overall market chart as well as the share chart.

That said, I have owned this stock for many years and it starting to get fully priced.
RichKid
14th-July-2005, 04:11 PM
It's caused by the tempoary dip we had around May. A market thing rather than a stock thing.

You tech guys should be looking at the overall market chart as well as the share chart.

That said, I have owned this stock for many years and it starting to get fully priced.

Looks like a chicken and egg issue- is the market trend affecting the stock or vice versa? When individual stocks are fully priced and you begin to see a few double tops in stocks it's time to get extra cautious.