Thursday, 22 May 2014
Moving Averages indicate Bank of Ireland not ready for our cash
Moving Averages indicate Bank of Ireland is still on Down-trend by KrunchieKilleen on TradingView.com
After a severe correction in 1999, Bank of Ireland trended strongly upwards between June 2000 and Dec 2006. 2007 to 2009 saw the company wiped out. After a brief and strong revival in 2009, the share slumped back to the floor. The 15-day Moving Average (coloured pink) gave warning of threatened down-swings throughout this history, including a warning of an imminent down-swing just before the crash. A Down-trend was certainly afoot when the graph cut through the 50-day Moving Average (coloured light green), confirmed when the shorter one also crossed under the 50-day Average. When the 15-day Average met the Support Line (coloured dark green), however, the down-trend was already clearly under way. By the time the time the short and medium term Averages cossed below the 100-day Moving Average, the brief revival of 2009 was happening and had ended, respectively. We move on to a One-year chart to continue the analysis.