Aussie Market did 145 Buys out of 2035 Aussie stocks.
Let's see some history relative timing (RT) values by VectorVest:
16-Apr = 1.07
13-Apr = 1.00
12-Apr = 1.00
11-Apr = 1.02
10-Apr = 1.13
SKT.AX has a current Value of $2.56 per share, which is undervalued compared to its Price of $2.25 per share. Value is computed from forecasted earnings per share, forecasted earnings growth, profitability, interest, and inflation rates.
As the relative timing (RT) was declining sharply from 1.13 to near 1.00, it is not a good sign for a longer run.
Let’s have a look on the technical analysis:
A "Continuation Wedge (Bearish)" chart pattern formed on Sky Network Television Ltd.
After a temporary interruption, the prior downtrend is set to continue. A Continuation Wedge (Bearish) represents a temporary interruption to a downtrend, taking the shape of two converging trendlines both slanted upward against the trend. During this time the bulls attempt to win over the bears, but in the end the bears triumph as the break below the lower trendline signals a continuation of the prior downtrend. $2.31 is a key level.
Resistance:
Ichimoku plays a key role telling us that the major resistance (Kijun-sen) is 2.293 or the senkou-span of projected red cloud at 2.303. Therefore the supply zone is between these levels.
Let's see some history relative timing (RT) values by VectorVest:
16-Apr = 1.07
13-Apr = 1.00
12-Apr = 1.00
11-Apr = 1.02
10-Apr = 1.13
SKT.AX has a current Value of $2.56 per share, which is undervalued compared to its Price of $2.25 per share. Value is computed from forecasted earnings per share, forecasted earnings growth, profitability, interest, and inflation rates.
As the relative timing (RT) was declining sharply from 1.13 to near 1.00, it is not a good sign for a longer run.
Let’s have a look on the technical analysis:
A "Continuation Wedge (Bearish)" chart pattern formed on Sky Network Television Ltd.
After a temporary interruption, the prior downtrend is set to continue. A Continuation Wedge (Bearish) represents a temporary interruption to a downtrend, taking the shape of two converging trendlines both slanted upward against the trend. During this time the bulls attempt to win over the bears, but in the end the bears triumph as the break below the lower trendline signals a continuation of the prior downtrend. $2.31 is a key level.
Resistance:
Ichimoku plays a key role telling us that the major resistance (Kijun-sen) is 2.293 or the senkou-span of projected red cloud at 2.303. Therefore the supply zone is between these levels.