I’ve been taking a look at the Stocks that make up the New Zealand Stock Market (NZSE), and added some to my Watch List that I think are exhibiting Darvas Box behaviour - or are at least worth keeping an eye on.
Take a look for yourself. Let me know if you think I have missed any out.
Symbols refer in Yahoo Finance format.
To start with there’s the NZSE50 (Yahoo:^NZ50) - The NZSEs primary Index - This has been climbing steadily since its inception in May 2004 (it replace the NZSE40) - and has now broken through to new highs after about 3 months in retracement.
Continuing in Alphabetical Order:
ABA.NZ - Currently sitting in a Darvas Box after a breakout on high volume in May ‘05.
ABS.NZ - Hitting the top of a Darvas Box which was formed in April ‘05.
AFI.NZ - Currently looks like being at the bottom of a retracement from annual high in July ‘05.
ANZ.NZ - Hitting annual highs - not spectacular though.
APN.NZ - Has been retracing from annual highs for the last two months.
AXA.NZ - Ditto.
CAH.NZ - Hitting new highs on high volume.
CDN.NZ - Hitting new highs in an upward trend.
CEN.NZ - In retracement from annual high in Jun/Jul ‘05.
CNZ.NZ - Hitting annual highs, but rising slowly.
CTG.NZ - Exhibiting Darvas Box like behaviour for last 2 months.
DFH.NZ - Hitting annual highs - looks erratic though.
FML.NZ - Recent stellar jumps in price - looks volatile.
FPH.NZ - Currently in a Darvas Box - Doesn’t look too spectacular.
FRE.NZ - Recently hit new high after LARGE retracement - again, doesn’t look spectacular.
HLG.NZ - Hitting new highs on good volume.
IFT.NZ - Just broken out of Darvas Box to new highs.
LBS.NZ - Spent the last year in a Darvas Box. Recent spikes in volume.
MFT.NZ - Darvas Box forming?
NGC.NZ - New highs - good volume.
NZF.NZ - Sideways since April ‘05 after good initial climb.
NZR.NZ - Showing signs of Darvas Box formation.
OBV.NZ - More signs of Darvas Box formation on good volume.
RYM.NZ - New highs with good uptrend.
SKY.NZ - Recent sharp drop after prolonged uptrend - Now in a 5 month sideways move.
SMM.NZ - Steep climber to new highs on spiking volume.
TTP.NZ - Low cap showing uptrend.
VTX.NZ - Tapping a new high after large climb in March ‘05 and subsequent drop.
WFD.NZ - Currently going strong for the top.
Over the next few weeks, we’ll be removing some of these on our watch list depending on how they shape up.