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.