What is technical analysis and why is it needed?
If you have ever read or watched market reviews on TV (usually prepared by analysts at investment companies such as Finam and Rickom Trust), then you have probably noticed the following feature.
Most analysts, when making a forecast, proceed from fundamental factors: the news background, the price of oil (the Russian economy greatly depends on it), and the optimism of foreign investors. This approach is understandable even for a beginner.
But to take into account all the factors, you need to spend hours studying the news feed, wasting precious time. After weighing all the pros and cons, the investor decides whether to buy or sell a stock.
The collective actions of many investors lead to a change in price, which is displayed on the chart. By studying the patterns of these changes, analysts have found a way to save time: instead of reading the news, it is enough to plot special tools on the chart, called indicators, which allow making a further forecast.
This is what technical analysis consists of: it is assumed that the current price and the shape of its chart contain all the information available to market participants. All that remains is to interpret it correctly and present it in the form of specific recommendations.
Review of “dubious” 3rd tier stocks. Part 3
We are interested in examining the stories of dubious companies.
Next up is the final third review.
Here are links to the first two:
31.08.2018, 09:45
Review of “dubious” 3rd tier stocks. Part 1, three G
The purpose of the review is to take a first look at unfamiliar companies and remind you of well-forgotten old ones. For convenience, we will divide the reviews into several parts. GIT (Urban Innovative Technologies) is the first to present the housing and communal services sector on the Moscow Exchange. The holding operates in the housing and communal services sector mainly in the territory of … Read more
20.11.2018, 13:34
Review of “dubious” 3rd tier stocks. Part 2
We continue to get acquainted with little-known companies. The first part of the review: https://alenka.capital/post/obzor_somnitelnyih_aktsiy_3_go_eshelona_chast_1_tri_g_39913/ Plus, we separately examined the dubious company Multisystem, since it … Read more
Taganrog Combine Harvester Plant
Let's dig a little into the history of this enterprise (for general development).
As it turned out, this is an order-bearing plant with a huge history. The beginning was made back in 1915 ; during the war, the plant was moved from Tallinn to Taganrog and received the name “Russian-Baltic Shell Plant” . He produced artillery shells and rifle cartridges for our army.
Then the plant began to produce tools and was renamed “Southern Machine-Building Trust” (1922), “Taganrog Tool Plant No. 65 named after. Comrade Stalin" (1925). At the same time, the plant began producing spare parts for tractors and mass production of TIZ AM-600 motorcycles, which were later in service during the Second World War. In those years the plant was evacuated to Tyumen. And then he moved again to Taganrog.
In the post-war period, they returned to the production of combine harvesters and renamed the Taganrog Combine Harvester Plant. It was a huge, efficient industrial enterprise employing some 23,000 people. Combine harvesters won world exhibitions and helped improve agriculture in the country, the plant carried a social burden, built housing and sanatoriums for employees.
During perestroika, devastation began. In the late 90s, on the basis of the plant, the Doninvest group built the Taganrog Automobile Plant (TAGAZ) together with Daewoo Motors. Now Tagaz produces Hyundai cars.
Since 2007, the plant itself has actually ceased to function, and its property has been sold off.
Here is a screenshot from the 2009 annual report.
Let's try to look into the plant's accounting department and understand what is happening there.
The company’s reporting is not so easy to find; it is no longer available on the disclosure servers, and the company’s website could not be found.
Based on the documents that were found, it is possible to trace the dynamics of financial indicators only until 2012.
Everything is very sad, the proceeds from the sale of the remaining property.
However, the shares of the ruins remaining from the plant begin to be traded on the stock exchange in 2011 and were traded until October 2017!
Ticker: TGKO.
But how did such shares even get on the stock exchange? For what? And who traded them? Maybe there was some hope for the revival of the legend?
Trading in TKZ was suspended by the Moscow Exchange on October 23, 2021 with the wording “in connection with the adoption by the Federal Tax Service of a decision on the upcoming exclusion of an inactive legal entity from the unified state register of legal entities.”
Tuchkovo Construction Materials Plant (TCCM)
Quite a popular issuer.
According to information on the company's website:
Over the past years, from a small quarry near the village of Tuchkovo, then the Tuchkonerud artel, then the Tuchkovsky mine management, transformed into the Tuchkovsky quarry management, on the basis of the quarry management and ceramics plant, in 1959 the Construction Materials Plant was formed, which in 1994 received the status of the Tuchkovsky Open Joint Stock Company building materials plant.
The company includes the following divisions:
- quarry for the extraction of sand and gravel mixture;
- crushing and screening plant;
- concrete-mixing plant;
- industrial sites.
Today, the plant, in addition to the production of building materials, is engaged in the sale of productive mining and transport equipment and crushing and screening equipment, and can also provide services for renting warehouse space, transshipment of goods, and their delivery to the construction site.
The plant placed shares on December 30, 2010.
Moreover, initially 1,993 shares were issued at a nominal price of 10 rubles per share. Afterwards, each share was split into 4,000 shares with a par value of 0.0025 rubles. And in the fall of 2011, they made an additional issue using additional capital.
Over the first few months, stock performance showed fantastic volatility.
During the first year, shares fell from 238 to 14 rubles. The graph is telling.
The trading lull ended in 2021. There was an opinion that TCSM could be involved in the renovation program and the shares immediately became infected with gambling addicts.
However, we did not find confirmation of the information in the media.
Maybe there was another reason for overclocking, who knows?
In 2021, the stock has increased multiple times again. 15-25% of the capital per day .
Financial performance is poor, the business is unprofitable.
Obviously, this was not the reason for the rise in share prices.
The current state of affairs in the company does not yet inspire optimism.
Star
PJSC "ZVEZDA" is Russia's largest manufacturer of light, compact, high-speed, multi-purpose diesel engines.
The company was founded in 1932 and is located in St. Petersburg.
The history of PJSC "ZVEZDA" begins in 1932, when on the existing site at the address: st. Babushkina, 123 housed a plant for the production and repair of tanks (T-26, T-50), as well as tank diesel engines.
Since 1945, by order of the Chairman of the Defense Committee, the plant was repurposed into a diesel-building enterprise for the creation of marine diesel engines for high-speed vessels of the USSR Navy. Today ZVEZDA is a Russian enterprise-developer and manufacturer of high-power marine transmissions.
Products and services:
- high-speed diesel engines and units of dimensions 18/20 and 16/17 from 500 to 7400 kW for shipbuilding, railway transport, diesel generators and industrial units
- marine gear and reverse gear transmissions for various purposes with transmitted power up to 12,000 hp.
- marine diesel generators based on diesel engines of our own production from 300 to 800 kW
- diesel generators, automated power plants for backup, emergency and main power supply with a capacity from 315 to 1500 kW, multi-unit energy complexes up to 10 MW
- services: installation supervision, commissioning, after-sales service, provision of spare parts, repairs, training, consultations
- related engineering products and services: aluminum casting, machining, including highly precise processing on CNC machines, tool production, etc.
The main share of all products is produced under the state defense order (GOZ). Comment from the annual report:
In 2021, in order to implement the state program for import substitution, supplies of main marine diesel engines and gearboxes were carried out for ships and boats under construction for the needs of the Russian Navy and the PS FSB of the Russian Federation; the share of such deliveries amounted to more than 90% of total sales.
Agreements have been concluded for the supply of products in 2018-2019, which will increase sales in this market segment by more than 3 times .
The company held an IPO of sorts at the end of 2011 and since then the shares have increased several times.
True, growth was often accompanied by sharp surges of hundreds of percent.
The company's activities can hardly be called stable.
No growing dynamics are visible. This is normal for the industry.
The past year has been busy for the company:
- At the beginning of the year, the company signed a cooperation agreement with BelAZ.
The agreement is aimed at organizing the serial production of new generation diesel engines with power from 400 kW to 4000 kW (types M-150 and DM-185) for use on BELAZ mining dump trucks with a load capacity of up to 450 tons. The production of high-speed diesel engines will be organized at the Zvezda NPK plant sites in St. Petersburg and Yekaterinburg. The Eurasian Development Bank intends to provide financing for the project by providing a loan of up to 5 billion rubles for a period of up to 7 years.
By 2022, the enterprises plan to produce up to a thousand engines of various capacities and modifications. By 2025, the volume of investments should amount to about 19 billion rubles.
- In the summer the company changed owners. The St. Petersburg companies were replaced by companies from Yekaterinburg.
The former head of PJSC Zvezda Pavel Plavnik gave a long interview to RBC after the change of leadership.
Excerpt from the interview:
…
In 2014, as you remember, Crimea was annexed to Russia. And suppliers from Germany and Finland stopped supplying their products to the Navy. At the same time, gas turbine power plants for ships were produced in Ukraine, and products from there also ceased to be imported. Therefore, the construction of ships was “suspended.” As a result, civilian and military customers began to purchase Russian products, and from 2014 to 2021, the volume of orders increased significantly - more than 7 times.
…
The revenue plan for 2021 at the beginning of the year was about 3 billion rubles. - This is a rather difficult task, I am sure that the company’s management is making all the necessary efforts to achieve it. For comparison, in 2013 revenue was about 1 billion rubles. At the same time, the volume of orders was about 200-300 million rubles. from the Ministry of Defense. And at the end of 2021, the volume of orders was already about 5 billion rubles . That is, until 2021, the volume of orders increased, and the plant could not maintain the given rate of increase in orders; it lacked modern facilities and people and the stability of the equipment. There was a lack of smooth inter-factory cooperation. As a result, this affected the construction time of Navy ships, and the plant came under severe criticism from customers. It was decided that Zvezda needed to be strengthened by a strong shareholder with large resources. Which is exactly what happened.
Do you think there is a chance for the company to succeed under new management?
ASKO-INSURANCE (formerly Yuzhural-ASKO)
Insurance companies are a rarity in our market, especially regional ones.
Asko-insurance (not to be confused with the ASKO insurance company, which recently lost its license) is an insurance company from our beloved city of Chelyabinsk, providing services to the population and legal entities in various areas: OSAGO, CASCO, VHI, accident insurance, real estate, property, business risks, etc. In the insurance market since 1990.
Wide regional network: head office in Chelyabinsk, branches in 18 regions of the country. More than 1,200,000 clients.
The main specialization is car insurance, the share of premiums for compulsory motor liability insurance for 9 months of 2021 is 86,74%.
On banki.ru, in the rating of insurance companies, ASKO-Insurance is in 27th place in terms of collected insurance premiums for the 1st half of 2021. In terms of the number of concluded contracts, it is in 15th place.
Share capital structure: the founding general director of the company (A.M. Lyubavin) and his deputy (V.I. Gusha) have a total of 89.17% of the company. The remaining shares are held by minority shareholders; 9.7% of the authorized capital is traded on the Moscow Exchange.
Let's look at the company's financial performance.
Capital increased strongly in 2021 due to IPOs and retained earnings.
The main income is insurance premiums. Due to regional expansion we achieved good growth.
Profit in 2021 increased by 82,7%.
Half-year reporting under IFRS began in 2021, the diagram turned out to be small.
In the first half of the year, both profit and capital also increased.
Small dividends were paid twice - based on the results of 2021 - 0.0376 rubles. and for the 1st half of 2021 - RUB 0.08 per share.
Trading on the stock exchange (ticker ASKO) began on July 11, 2017. In July of this year, they conducted an SPO for 10 million shares. That is a rare example when, after an IPO on our market, shares do not rush down, but grow.
The shares doubled, and in April 2021 the quotes began to decline sharply.
Just at this time, the stock exchange classified the company's shares in the sector of securities of uncertain investment risk.
The company's authorized capital consists of 536 million shares.
Capitalization currently amounts to 3.7 billion rubles.
Multipliers:
P/E = 6.3
P/BV = 2.25
Interview with the founding CEO, where he talks about the company, its successes, plans and its IPO:
https://74.ru/text/gorod/396364353912832.html
In general, the insurance business is specific, and in the case of this company, income and prospects will depend, among other things, on state regulation of tariffs for compulsory motor liability insurance, which next year will be calculated according to new rules. This is important for the company, because... OSAGO brings in the lion's share of income. Perhaps there are risks in this. Experts have different assessments of the impact of the changes, but mostly negative.
Tantalum
Saratov PJSC Tantal is an enterprise with more than half a century of history. It was created in 1949 on the basis of tank repair shops for the production of electric and radio tubes, and 7-10 years later the production of a wide range of ultra-high-frequency vacuum and solid-state generators, which are the elemental base for the most complex weapons systems, began.
Modern Tantalum is a holding company with more than twenty enterprises. The range of activities of the holding is very wide; the main areas of research and production activities are:
- ultra-high frequency technology;
- precision equipment and interferometric devices;
- high-precision mechanical processing of metal;
- tool production;
- equipment for the production of PVC structures;
- components of radio-electronic equipment and devices for communication equipment;
- overhaul of electric motors of all types and capacities;
- telecommunications equipment;
- engineering.
In 1989, in order to develop the production of consumer goods, Austrian equipment for the production of plastic windows was purchased and the production of PVC plastic windows was organized. The first window made of plastic PVC profile in the USSR was manufactured at the Tantal Production Association in Saratov in 1989. Since 1993, PVC windows have been mass-produced at JSC Tantal. Since 1998, Tantronics CJSC, originally created as a joint Russian-Austrian venture, has been producing PVC windows and PVC profiles. Since 2002, Tantronics CJSC has been a 100% Russian enterprise.
It is worth noting that Tantrix owns 69.5% of Tantalus.
The company was listed on the stock exchange at the end of 2011. High volatility has not passed these stocks by either.
Financial indicators are not available in full, since the company is a representative of the defense sector.
So it is possible to look at the indicators only in the period from 2011 to 2021.
There are no obvious dynamics visible, profits are minimal.
Currently, the media are increasingly seeing articles about delays in paying salaries to company employees.
Maybe the sale of non-core assets will help keep the company afloat:
https://www.oao-tantal.ru/newsdetail.php?id=4813
We are waiting for comments and additions on the companies reviewed 
Now for some practice
The popularity of Russian shares among investors depends on factors such as the importance of the issuer for the economy, the potential for its further development, as well as the liquidity of the share and the volatility of its value. Systemically important companies participate in the calculation base of the MICEX index and form a list of the so-called. "blue chips".
Example No. 1, JSC Aeroflot
Most investors prefer to work with shares of Sberbank, Gazprom, Aeroflot, VTB, Alrosa, Surgutneftegaz. For example, let's look at the daily price chart of Aeroflot shares (read more about how to read a candlestick chart here). The intrigue is that at the moment they are trading near their historical maximum, equal to 225 rubles per 1 ordinary share.
The chart shows that after 12.07 a price gap or gap is formed. This is due to the fact that on July 14, the company’s register of shareholders was closed for the payment of dividends (marked “D”). Such an event usually leads to a temporary decrease in demand for shares and the share of sellers (traditionally called “bears”) becomes predominant.
The next few days the price is in a narrow horizontal range. This phenomenon is called consolidation. The blue circle with the letter “P” shows a bullish doji reversal pattern. Buyers are called “bulls” in the market: they seem to raise the price with their horns, in contrast to bears, who push the price down with their mass. The current situation can be shown more clearly as follows:
Such price action often indicates a future reversal. The reliability of such a signal is considered close to 80%. However, it is advisable to obtain additional confirmation. There is a blue line on the graph. This is an indicator called an exponential moving average.
It connects the points obtained by averaging the closing prices of an asset over a certain period of time (in our case, 9 days) taking into account the “weighting” coefficients of these prices: the “fresh” the price, the higher its coefficient. This indicator smoothes the price chart and gives a more clear idea of the trend in its further change.
When the price rises above the moving average, a buy signal occurs. In this case (214.85 rubles) this is exactly what is observed. Finally, another indicator on our chart is the relative strength index or RSI (it is separately below). If its value exceeds 70, the asset is considered to be overbought and further purchases are risky.
However, thanks to the gap followed by consolidation, the RSI left the overbought zone. Thus, according to technical analysis, Aeroflot shares are suitable for purchase. By the way, in most cases the gap closes sooner or later.
As practice shows, the price is never too high or too low. However, there is one exception: company bankruptcy. How this shows up on its stock chart is our next example.
Example No. 2, Taganrog Combine Harvester Plant
Let's look at the weekly chart of shares of the Taganrog Combine Harvester Plant or TKZ. In 2014, this plant was declared bankrupt. However, its shares continued to be traded on the Moscow Exchange, reflecting the residual value of the enterprise.
The chart shows that the huge bearish candle at the beginning of 2021 corresponds to extremely low trading volumes. This means that there are no buyers in the market. Subsequently, the price collapse continued, periodically giving way to rebounds. All this happened with minimal volumes.
And in April 2021, when the price almost reached zero, the volumes became truly enormous. This can only mean one thing: market participants have received comprehensive information that investing in this instrument does not make any sense. Indeed, in May 2021, TKZ shares were removed from the RTS Board listing.
DIA put up for auction 1% of the shares of the liquidated combine plant in Taganrog for 1.9 billion rubles
Ulan-Ude. 9th December. INTERFAX - The State Corporation "Deposit Insurance Agency" put up for auction the shares of Taganrog Combine Plant OJSC (MOEX: TGKO) (TKZ) owned by Baikalbank, as well as the bank's rights of claim to more than 5.2 thousand individuals and legal entities, it follows from materials of the Unified Federal Register of Bankruptcy Information.
The lot providing for the sale of 0.97% of the authorized capital, or 19 million 872.4 thousand ordinary shares of the plant, became the most expensive. Its initial price is 1.93 billion rubles.
Acceptance of applications for participation in the auction will end on January 17, 2021, the auction is scheduled for January 22.
At the same time, the tax service, according to the SPARK-Interfax system, on November 13 of this year made a decision “on the upcoming exclusion of a legal entity (TKZ) from the Unified State Register of Legal Entities” as an “inactive legal entity.”
The authorized capital of the combine plant is 204 million 218.5 thousand rubles, it is divided into 2 billion 8.93 million ordinary and 33.25 million preferred shares with a par value of 0.1 ruble each.
From the latest published TKZ report dated February 9, 2021, it follows that the main owners of the OJSC at that time were Asha Holding Aktiengesellschaft / Asha Holding Limited (19.24%), Sapor Invest Inc. (19.32%) and Taganrog Automobile Plant LLC (TagAZ, 14.83%) created on the site of the combine harvester enterprise.
In addition, it was reported that in 2021, as part of the bankruptcy of TagAZ (Ulyanovsk), it bought 302 million 854 thousand ordinary shares of TKZ for 27.5 million rubles with an initial lot price of 3.67 billion rubles.
The Taganrog Combine Harvester Plant was created in 1948 on the basis of the Taganrog Tool Plant N65 named after Stalin and produced grain harvesters. In 2011, TKZ announced the cessation of production of combine harvesters.
The Central Bank of the Russian Federation revoked Baikalbank's license to carry out banking operations in August 2021. In October of the same year, the Arbitration Court of Buryatia declared the bank bankrupt and opened bankruptcy proceedings against it. The register of creditors includes claims in the amount of 7.4 billion rubles.
In November 2021, the Investigative Committee of Buryatia, based on facts identified during a prosecutor's audit of the bank, opened a case under Article 196 of the Criminal Code of the Russian Federation (intentional bankruptcy). It was previously established that from January 1 to August 18, 2021, the management of Baikalbank made a number of transactions with securities and gold, as well as the alienation of movable and immovable property, receiving in return bills that actually had no market value.
Based on the results of the second quarter of 2021, Baikalbank ranked 228th in terms of assets in the Interfax-100 ranking prepared by Interfax-CEA.
Financial and Economic Information Service
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Helpful advice
For the busiest people, there are online services that provide automatic recommendations for the purchase or sale of any asset. Analysis of the readings of popular technical indicators is carried out using a special program (for example, here). Sometimes the chart itself doesn’t even need to be downloaded.
Recently, in one of my articles, I mentioned shares of Mechel OAO that are interesting from an investor’s point of view. Suppose we need to decide what to do with the shares of Mechel JSC (“ao” means ordinary shares, in contrast to “ap” - preferred shares). Let's choose a daily chart.
Most indicators give a buy signal on it. The only exception is moving averages with periods of 100 and 200, which have not yet had time to turn upward. By the way, a “buy” recommendation means purchases at the current price, and “active buy” means continuing purchases when the price rises.
Studying all this information in the graphs individually would take a lot of time. It turns out that even technical analysis can be speeded up!
TKZ
TKZ combine plant is a Russian machine-building enterprise in Taganrog that produced grain harvesters. On the basis of JSC TKZ in 1997, through the efforts of the plant PA TKZ, the Vice President - Commercial Director of JSC TKZ, Deputy General Director for Production and Marketing, JSC TKZ, Deputy of Russia, was equipped with a boiler house and 90 heat exchange equipment produced by TKZ Krasny Kotelshchik The plant was founded in 1896 by the Russian-Belgian company Shakhtar Dynamo Ns Yenisei SKA - Ural Builder Pogranichnik Impulse Lokomotiv MV TKZ Sakha Shakhtar Severstal Ural - Great Builder Two round-robin tournament for one quarterly development TKZ 1968 - a house-building plant was created 2 DSK - 2 January 1976 - on the basis of DSK - 1, DSK - 2 , TKZ and the KPD - 3 plant are created by the Moscow City Committee of the All-Union Communist Party b. Elected as a deputy of the Supreme Soviet of the USSR of the 2nd convocation. Died in 1957 in Moscow. OL Order TKZ Pavlyukov Pavlyukov Aquarius Shakhtar Dynamo NS Yenisei SKA - Ural Ermak Aleko UNICS Lokomotiv MV TKZ Sakha Stary Sobol Severstal Neftyanik Ural - Great Van - Basket Dimitrovgrad Grammonit T - 5 Grammonit TK - 10 Grammonit TK - 15 Grammonit TKZ - 10 Grammonit TKZ - 15 Color light yellow. Bulk density 0.9 - 1.0 g cm³. Grammonites I. S. Chernyadyev. Bashkir book publishing house, 1979 Knight of two Civil Codes, Order of Lenin, TKZ Red Star Knights of St. George in the USSR Timofeev
Economy by city of Russia Economy of Taganrog Industry of Taganrog Taganrog Combine Harvester Plant
supercritical boilers with a steam capacity of 2200 tons per hour OJSC TKZ Krasny Kotelshchik, the contract was planned to be completed in 58 months. In 2005, 9 steam power boilers were produced: 4 steam boilers TP - 170 produced by TKZ Krasny Kotelshchik with a capacity of 170 t h, 5 steam boilers PK - 14 produced were temporarily moved to the Palace on the Yauza. As of 2012, the building belongs to TKZ Palace on Yauza LLC. The building was originally built in 1903 according to the design of a water tower. The main enterprises are the brick factory TKZ Krat Master LLC and the agricultural LLC AGRO Niva, built in 2012. The company includes the following enterprises: Moscow branch of OJSC EMAlliance OJSC TKZ Krasny Kotelshchik Podolsk branch of OJSC EMAlliance OJSC Engineering Kabardian Stud Farm. Date of access: February 3, 2019. Team Rodnik 2 - 1 TKZ 169 and horse breeding - the future of the Russian village. Open class. Date of appeal includes: Double-shell drum boiler Ep 670 I40 model TP E - 208 - 335 TKZ Designed to work on milled peat. A natural circulation boiler with a thermal capacity of 270 Gcal h with a boiler unit TPE - 216 type Ep - 670 - 13.8 - 545BT TKZ, although the start time of construction is unknown. To complete the construction of OGK - 2 Date of application November 4, 2021. The quality of the CFB boiler produced by TKZ Krasny Kotelshchik is confirmed by an unspecified certificate. Power Machines 2007 to 2009 worked as director of social issues at TKZ Krasny Kotelshchik OJSC. At the time of the mayoral elections in Taganrog, he worked as a deputy for the football team. The founders of the club were MUP Taganrogenergo OJSC TKZ Krasny Kotelshchik and the Taganrog Property Management Committee. Was heard For the first time, the songs were presented to the public on January 25 of the same year at the TKZ Palace on the Yauza. The concert program included both new songs
beyond recognition in the late Stalinist Empire style is now in the building - TKZ Palace on the Yauza In the first years after the revolution, People's Commissar of Education A. In the artesian basin is relatively high. The reserves approved in the State Reserves Committee and the TKZ are approximately 30 of the operational resources. In terms of basin area, the reserves of the deposit were approved by protocol 235 dated 08/18/1978 of the TKZ of the Krasnoyarsk Geological Department in the amount of 9.3 million tons. According to the state of the plant. Reserves of brick loam in the amount of 2535.0 thousand m³ are approved by TKZ as a raw material for the production of solid ordinary brick grades 175 - 250 CJSC Moscow Coffee House on Payakh Since 2007, on the leased territory of TKZ 1 brick plant of the Ministry of Special Construction there has been a large production enterprise for the largest power engineering plants OJSC ZIO - Podolsk and OJSC TKZ Krasny Kotelshchik 2006 - 2011 First Deputy General Director of crushed stone production. In 1955, the reserves of the field were re-approved by TKZ. In 1960, additional exploration of the field was carried out, construction of the area for examination of reserves began, the boundaries of the areas of activity of the State Reserves Committee, TKZ and CDC, their powers, control and responsibility were determined. A new trend has been identified Steam locomotive Tk3 Fin. Tavarajunaveturi - freight locomotive, kevyt - light until 1942 - K5 nickname - Pikku - Jumbo - a series of Finnish freight locomotives of the type
Afterword
Supporters of technical analysis argue that if news regarding an exchange asset is published, then this is already reflected in the price and, accordingly, on the chart. In their opinion, reading the news feed is not necessary. There is a valid objection to this. Before price changes become noticeable, for example, on a daily chart, they must appear on all shorter-term charts.
It’s the same here as in life. When looking at something large and significant from afar, we lose small but important details, and concentrating on details prevents us from seeing the phenomenon as a whole. The art of an investor lies in a wise compromise between all sorts of extremes, and this only comes with experience.
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