Fairfax holding... looks like a goer...

[still_in_school]

Hi Guys,

looks like fairfax (john) holdings limited is about to break resistance... closed today at $3.75, and the stock has formed a sound consolidation pattern along the previous resistance line, with this pattern at hand a good potential push towards a target area of $4.10, if the stock can break the resistance at $3.77 and above...

Cheers,
sis

[JetDollars]

Hey Still In School,

What charting software are you using? Cost? yearly subscription Fees?

[still_in_school]

Hi Jet$,

mainly the stuff from paritech, like marketscan and metastock, but you can use the free ones off commsec and etrade, as they are interactive and allow you to do a few things, but dont have all the indicators like the others... but still its plenty enough to do successful trades...

Cheers,
sis

[JetDollars]

Thank you Still In School.

[still_in_school]

grr... unfortantly FXJ, didnt get to rise above $3.77, and end up closing slightly lower than open, hopefully if it can break this resistance barrier... we will able to watch this stock find new support...

Cheers,
sis

[still_in_school]

fxj has finally broken resistance...

Cheers,
sis

[stefan]

Still in school,

Now that it has broken resistance, what do you expect it to do from here? Going up because resistance is broken or going up because it's undervalued, or going down because it's too expensive?

My point is, just because a stock is breaking some resitance point on a chart, doesn't mean much. Without substantial backing it is likely to fall back to old levels. Do you have a reason to believe that Fairfax could go higher from here? I'm always interested to hear about good picks.

Happy trading

Stefan

[still_in_school]

Hi Stefan,

John Fairfax Holdings Limited is a locally-owned public company that earns sales icoe through its newspapers magazines, entertainment publications and through the f2 internet Network. Over the last 12 months it has also expanded into New Zealand, by acquiring a leading newspaper group in NZ. The newspaper publishing group is Austrlia's largest with mastheads that include "The Sydney Morning Herald, The AGe, The Australian Financial Review, BRW and The Sun Herald"

FXJ has recently upgraded its forecast for the full year 2004 (results announced 26th August) by 5% above most analyst's forecast.

Technical Analysis after some sound consolidation pattern along the previous resistance line, FXJ has broken through the long downward trend.... suggesting a further upward trend, previous history suggests that a break above this consolidation pattern will have a potential push toward the target area of $4.10

Cheers,
sis

[stefan]

Sis,

Thanks for the update on Fairfax. Much appreciated. I'll put it on my watchlist for further investigation.

Have a nice weekend

Stefan

[Garpal Gumnut]

And some say they were the "good old days".

Think of the attrition of capital from all the so-called blue chips of just 6 or 7 years ago.

Carpe diem and cave canem.

gg