ROC'ing the MLB.AX....technically

Don't really have a lot of time for Technical trading, but one thing it is good for is picking up indicators of bad news. Someone always knows. My favourite indicator is the 12 day ROC. When it goes under 1 (consistantly), it is a sign that all is not well and some bad news is heading down the pipe. Just look at Melburne IT. Things were sounding great, but as early as late October, the ROC fell below 1 (indicating some sell pressure)

Would have been a good time to sell on the 26/10/2011 (at $1.80) instead of now (at $1.53)