Two questions for Australian investors:
- Does the graph below show an up-trend?
- Would it be a good time to buy this stock?
If your answer to both questions is NO, then why would you consider selling when we invert the price scale? The chart is the ASX 200 index. Use View >> Invert Price Scale, or Ctrl+I shortcut key to invert the chart.
* Target calculation: 5550 + ( 5550 – 5350 ) = 5750
The chart below is not inverted. The ASX 200 VIX tends to behave inversely to the index. A value of 12.2 suggests low risk typical of a bull market.
The Australian Dollar is retracing to test support at $0.92. Respect would indicate that buyers continue to dominate. Recovery above resistance at $0.94 would suggest an advance to $0.97. Follow-through above $0.945 would confirm. Breach of $0.92 remains unlikely, but would warn of a test of primary support at $0.8650/$0.87.
AVIX looks like its broken the down trend to me
Like the VIX in 2012?
When you ask great questions you get great answers.
Hi Colin
I like the Invert Price Scale function. It took a few minutes to get it clear in my head but, once I did, it made me think about the direction of the share price in a completely new way. It might come in very handy, Thanks