The overlap between today's and yesterday's candle stick does not tell me the reversal. If the lower shadow were a bit longer and there were no overlap, it would more likely be the sign of the reversal provided that the whole part of tomorrow's candlestick is higher than today's.
Personally, I realized that it is very dangerous to try to find a bottom in a downtrend situation.
Anyway, AWB looks very cheap considering last year price. But things have been changed a lot compared with last year, fundamentally. Have you read the news linked as below? http://www.weeklytimesnow.com.au/article/2009/02/12/52365_grain-and-hay.html
I am not an expert on Aussie agriculture or agribusiness. I do not know when crop season is and whereabout the wheat grows, either.
Recently, floods hit NSW and QLD. I do not know if the floods were serious for wheat crops.
If anyone knows, comments will be appreciated.
I hope I am wrong and you are right, AA.
Regards,
AWB Price at posting:
97.3¢ Sentiment: None Disclosure: Not Held
