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MYER HOLDINGS - THE BETTER TIME TO BUY

A number of my clients asked for my views on one of Australia's largest retail stocks, Myer Holdings Limited (ASX code: MYR).  In particular, whether the $1.45 level was a good area to initiate long positions on the stock.

In a recent blog post which you can read here, I outlined several reasons why I thought $1.45 was not only the wrong PRICE to buy at but also the wrong TIME to buy.

In that blog post, I commented that I thought the $1.15 price level would be a better time to buy.  Well, so far the low in MYR currently sits at $1.155 - so I was half a cent out with my price forecast.

MYR - 9 Oct 2016

click to enlarge chart 

The next chart shows how my Trading to TIME technique could have assisted you in identifying key turning points in MYR to better time your buy and sell entries.

MYR - 9 Oct 2016 trading to TIME

click to enlarge chart

The chart above identifes the 'highest probability' daily time counts that we descibe in detail in Trading with the Time Factor - volume 2.  You can get a copy of that by visiting the Trade Shop page here.

In volume 2, I teach you how to calculate these high probability TIME dates with ease and simplicity.  In the case of MYR, this technique combined with my PRICE measuring techniques would have improved your long entry by almost 20%.

Until next time...

 

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Wednesday, 29 January 2020

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