Bearish potential detected for AUI

Oct 12

Entry conditions:
(i) lower share price for AUI along with swing of DMI indicator towards bearishness and RSI downwards, and
(ii) observing market reaction around the share price of $11.20 (open of 28th July).

Depending on risk tolerance, the stop loss for the trade would be:
(i) above the potential prior resistance of $11.55 from the open of 29th August, or
(ii) above the potential prior resistance of $11.72 from the open of 25th August, or
(iii) above the previous swing high of $11.76 from 22nd August.

Oct 18

Order cancelled

UPDATE (week ending 17-Oct): Lower share price did not get tested during the week as per original thesis of entry conditions, and the share price rose above the 50 day MA a reasonable distance. Trade set up can be ignored this time around - we'll look for another trade instead.