KIO

[theyoungster]

came off quiet a bit in closing auction? good place to enter?

[#2]

No. KIO has turned down exactly on an upper channel line. If it does NOT break-out upwards within a few days, then the 2-week target is the bottom of the channel, around 275 - 280.

[platsak]

Whats the forums long term view on this share.

[theyoungster]

time to short

[#5]

ya, there's about 12% in it to the bottom of the channel.
Gearing (of 6.5) x 12% = 78%Profit. hmm...

[#6]

Hmmm. Those last 2 lows looks like a double bottom...

[platsak]

Vic. Except sounding interesting whats the meaning of a double bottom.

[bulletjie_1]

Its like a double breast..its just lower down

[Quakedog]

I would not short this one guys.

[#10]

Naspers made a double bottom from 11 Jan to 4th of April. Buy on break of neckline and projected height up is distance from neckline to peaks.

[#11]

The double bottom is the support point of around 296...297 formed when share dropped and tested that price twice in June.

I think, judging by the comments so far, that one certainly has to take very aggressive action and do exactly nothing. On the downside, yes, I see the double bottom, but once it pierces that support then the next stop is the channel support at 275-ish. On the upside, she's just tested the top of the channel for the third time. If it breaks upwards in the next few days then ofcourse it's a buy. Beware of the hook though.

[#12]

Yes, good possible buy on channel breakout, and definite buy on neckline breakout. No shorting for me on this one. Risk too great what with it hot on the tail of BIL and Rio Tinto with steel prices. Upward channel breakouts usually preceded by price forming a horizontal bottom/base in the down channel.