I am trying to make some sense of the price chart of Sonova (SWX:SOON).
Today, it closed above the high of 129.80 immediately before the crash in December 2007. That decline ended in October 2008 with a low of 42.00
On 10 November 2009, the price gapped upward 3.4%, with a low of 116.80 on that day compared with a high of 113.00 on the previous day. Not until 28 October 2010, 20 days ago, was this gap closed with a low of 112.30 and since then the price has been on an upward trend, with just a small two-day dip along the way.
The latest all-time high, 139.80, was on 20 January 2010 and the price has been see-sawing since then, coming close to testing that high on 4 May with 139.60 and on 19 July with 136.60
What can we expect now? A continued up and down until at some point the high of 139.80 gets tested?
I searched for news to explain the increase of 7,1% over the last two days. There was the
report of the 17% increase in sales during the first half of the current fiscal year, ie April–September 2010, but I understand this was what analysts had expected. Had it been a surprise, surely the price would have jumped all at once, creating a gap, but as it is it has risen steadily, hour by hour.
Scouting for new buy candidates, I am looking at Holcim (SWX: HOLN). A news report published yesterday, only in German, says that Morgan Stanley has reduced the price target from 62.50 to 59.50, yet today the price is going up. Is this a reflection of how little the market thinks of the analysis made by Morgan Stanley.
What can we expect now? A continued up and down until at some point the high of 139.80 gets tested?
I am holding too much Sonava (SOON) and meant to sell half of it today shortly after the open at CHF 126.00 but I must have forgotten to do the final mouse click and nothing got sold. In the meantime the price rose even higher and the stock is trading at CHF 130.30 at the moment.
ETFS Brent Oil (LSE:OILB) also gave me a sell signal yesterday and when I saw it open today below yesterday's close I sold half of my position at USD 45.96. My cost having been USD 43.82, this represents a profit of 4.9% in 152 days. Taking into account the drop in the value of the dollar, I made a loss of 8.7% in CHF, the currency in which I traded this ETF because I do not have a USD account with this Swiss broker.
Gold has had a bumpy ride since I first bought a ZKB Gold ETF (SWX:ZGLD) in May at CHF 4,045. Seeing yesterday's sell signal, I sold it minutes after the opening today at CHF 4,187, resulting in a profit of 3.5% in 198 days.
Sonova (SWX:SOON) closed at CHF 119.00, below my trendline and it does not look good. Throughout the day, the price never rose above the opening price. Nevertheless, I have decided to hold on to it for the long term.
After trading above USD 1,400 for the first time three days ago, the gold price has dancing around that line for the past 38 hours in a horizontal channel. Will it break out on the upside today?
The price of Sonova (SWX:Soon) did not go the way I had expected after I bought it at the end of September 2009 at CHF 121.60. There was a new buy signal two days ago, which I did not quite trust, but I now added to my position today at CHF 116.10, bringing my average cost CHF 119.60
I didn't like the way the price of Holcim (SWX: HOLN) has been falling in the past few days and sold it today at CHF 75.60, at a profit of 3.3% in 26 days.
