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
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...
It has completed a retracement back up to 6274 (0.886% fib level) of the move down from 30/08/2018 to 21/12/2018. It is now forming a H & S pattern on the 4 hour chart. Watch for a break of the neckline on bearish sentiment or a bounce back up if the neckline holds. Current RSI below 50
ASX200 is currently correcting to its local support off the back of an overextended bullish move and collapsing stochastics.
The most probable event is we see price retest local support, before a pause for consolidation and then a break lower towards major support.
We expect major support to hold for long entry, provided the world macro environment stays stable,...
The ASX has formed a shooting star on the weekly candles.
We are now awaiting confirmation, this weeks candle will need to decline and close below last weeks candle.
We can then look for targets of 6100 and 6000.
After falls in the index in the last quarter of 2018, we have see a rally back into the sell zone(87.5% fib).
My target would be around the 5000 handle, which is nearthe 75% fib level on the monthly chart . This area is where the bulls should turn up,
as the index is in a very strong bullish trend on the monthly chart.
Completion of reporting season which followed after the financial sector royal commission.
Will start to see profits taken from this months small rally before a second chance of accumulation will present to target the prior top
- A relentless push to the upside, from a near perfect tweezer bottom
- At a critical level of Supply now, indicators are near topped out also
- RSI at 73 and the MACD histogram starting to dwindle, it would seem a reversal, or even a significant enough pullback is due
- Swing low to high reveals our Fibonacci Retracement levels for possible moves in price.
Looking at the ASX on the monthly chart
Seems like a never ending 10 year bull market
*Years calculated since last retrace in 2008 to current 2019 is 11 years. We are coming to the end of another 10 year market cycle (or GFC)
*I've added an AB=CD (in blue) to price to project where D will end. I've also cloned price for a better visual.
*Target objective is...