The ASX Ltd is on a very strong bullish monthly streak having gained over +25% in 2019 alone. It appears to be trading inside a 20 year Channel Up that displays all phases of a Bubble (aggressive rise, blow-off, consolidation) from Higher Low to Higher.
Currently it is near the end of the bullish leg towards a new Higher High (peak) which is projected within...
The market has been undecided about APT for the last six months. As a result a channel formed between approx $10 -$15. On the back of large volume that channel has been broken to the upside. Additionally senate enquiry findings was also met with large volume pushing the stock higher. Conclusion, market looks to have made up its mind on APT & looks a high...
Wisetech has been failing to breakthrough resistance for the past 2 months, forming a downtrend on the RSI.
A break above the pocket of resistance at $23.85 would see Wisetech retest its ATH and most likely break it higher.
A break below the local dotted uptrend line should see Wisetech retest it's major uptrend line around $20.
Daily - Looking for a Double top in the market, possible slightly up this week as StochRSI showing upward momentum
A labour win will see this drop - possible market doesn't like change especially if a Government changes the market.
Weekly- Stochastic RSI crossed below the 80 on the close
Vix Fix showing a top
RSI up high but not overbought yet
NEG Daily RSI Divergence playing out strongly on LPD, Gap done on positive new. (perhaps too many announcements on same day).
Looking for a "possible" reversal in the green zone, backed up by the 75 day MA. (has acted as resistance in the past..may act as support) Coming in line with the 61.8% fib level which is a probable spot for reversals.
Watching LIT ETF...
Divergence with PVT and MACD for the last month. Hopefully will see it rise and establish support back at 0.010
Fundamentals:
-second wash plant at the Macy project has been completed which has increased the concentration production.
-first shipment of zinc earlier on in the year. Hopefully will see revenue on next years report.
Growth investors have stepped in over the last 2 years every time Domino's has disappointing at report time or had negative news regarding their buyback. I think we are going to find out very soon if growth investors patience has run to thin. from a technical point of view DMP looks a high probabilty of breaking to the downside. Furthermore, its hard to see a...
Remain cautious on the long-side given bearish divergence & the double top. Look to buy any pullbacks.
A positive China Trade Deal or interest rate cuts may see ASX 200 reach new ATHs.
Looks like Creating another higher low here
RSI turning around
Stochastic RSI on the low side
Has to break resistance at $0.46 for it to have any chance of ATH
This is a penny share with current market cap of 3.7million AUD
if it works it will shoot to the sky,
if it doesn't most likely it ll head to zero or negative, maybe you can sell at current entry as it is acting as some support.
Reasoning for this share, is due to a prospective gas discovery onshore north of the city of Derby in Western Australia.
mostly for...
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