S32 has retraced from the top of this triangle and looking to find support on this trendline going back to 2015. S32 also has support from a previous channel and support zone at $2.90 all converging in the same area. MACD is also turning up with bullish hidden divergence on the RSI. If breaks below support zone and trendline then will be no trade and could even...
LLC is currently in a descending wedge with bullish RSI divergence and has a nice crossover on the MACD, it has not had a breakout yet but will look for a little 10% move to the top of the wedge. Also looking for a gap fill but will see what it does closer to resistance at the top wedge. Good luck 🍀
The ASX 200 futures contract (SPI 200) snapped a 3-day losing streak overnight, and with Wall Street trying to shed last week's losses and the Nikkei and Hang Seng finding support, we suspect a bounce could be due for the ASX today. The daily chart found support at the 20-day EMA and monthly R1 pivot and closed back above the May high. It is now within 1-2 day's...
Detected 12-Jul (detailed commentary and full scan results available in the signature below). Trade not activated as at 12-Jul. ASX:CPU represents a potential bearish opportunity should momentum continue and newer lows be made. Entry conditions: (i) lower share price below the level of the potential outside week noted on 12-Jul. Stop loss for the trade would...
Detected 05-Jul (detailed commentary and full scan results available in the signature below). Not activated as at time of review of 05-Jul. ASX:WEB represents a potential bullish opportunity should momentum continue and newer highs be made. Entry conditions: (i) higher share price along with swing up of indicators such as DMI/RSI. Stop loss for the trade...
Detected 17-May (detailed commentary and full scan results available in the signature below). Not activated as at time of review of 17-May. ASX:QUB represents a potential bullish opportunity should momentum continue and newer highs be made. Entry conditions: (i) breach of the upper confines of the Darvas box formation - i.e.: above high of $3.68 of 15th May...
Detected 27-Jun (detailed commentary and full scan results available in the signature below). Not activated as at time of review of 28-Jun. ASX:YAL represents a potential bullish opportunity should momentum continue and newer highs be made. Entry conditions: (i) higher share price along with swing up of indicators such as DMI/RSI. Stop loss for the trade...
Detected 07-Jun (detailed commentary and full scan results available in the signature below). Trade activated as at time of review of 07-Jun (albeit on low volume though). ASX:TNE represents a potential bullish opportunity should momentum continue and newer highs be made. Entry conditions: (i) breach of the upper confines of the Darvas box formation - i.e.:...
Detected 21-Jun (detailed commentary and full scan results available in the signature below). Not activated as at time of review of 21-Jun. ASX:MQG represents a potential bullish opportunity should momentum continue and newer highs be made. Entry conditions: (i) higher share price along with swing up of indicators such as DMI/RSI. Stop loss for the trade...
Detected 28-Jun (detailed commentary and full scan results available in the signature below). Not activated as at time of review of 28-Jun. ASX:AGL represents a potential bullish opportunity should momentum continue and newer highs be made. Entry conditions: (i) higher share price along with swing up of indicators such as DMI/RSI. Stop loss for the trade...
Yet if you read the financial press to make your investment decisions You would be de risking when you should be putting the pedal to the metal. Inverse Head and Shoulders points to a whopping price from here once the neckline is broken.
The ASX 200 cash market enjoyed its most bullish day in seven on Thursday. But like the SPI 200 futures contract, it met resistance before pausing. The daily chart shows that a double top formed around the June 26 high and trend resistance. And as it's not unusual to see a market retrace against a strong move, and we have an NFP report looming which could...
Detected 14-Jun (detailed commentary and full scan results available in the signature below). Not activated as at time of review of 14-Jun. ASX:NXT represents a potential bullish opportunity should momentum continue and newer highs be made. Entry conditions: (i) higher share price above the level of the potential outside week noted on 13-Jun. Stop loss for...
ASX200 - 24h expiry Indecisive price action has resulted in sideways congestion on the daily chart. RSI (relative strength indicator) is flat and reading close to 50 (mid-point) highlighting the fact that we are non- trending. We expect a reversal in this move. Risk/Reward would be poor to call a sell from current levels. A move through 7770 will confirm the...
WDS has formed a descending wedge with bullish RSI divergence and is also hitting support from the bottom of this channel at $27. While the channel itself is bearish WDS should still expect a strong bounce here. Wait for a break of trend and retest for confirmation and if breaks down out of channel it will continue to move lower due to bearish monthly RSI...
Detected 24-May (detailed commentary and full scan results available in the signature below). Not activated as at time of review of 24-May. ASX:SEK represents a potential bearish opportunity should momentum continue and newer lows be made. Entry conditions: (i) lower share price below the level of the potential outside week noted on 24-May. Stop loss for the...
ASX200 - 24h expiry There is no clear indication that the upward move is coming to an end. Although we remain bullish overall, a correction is possible with plenty of room to move lower without impacting the trend higher. Risk/Reward would be poor to call a buy from current levels. A move through 7800 will confirm the bullish momentum. The measured move...
The SPI 200 shows an established uptrend on the 1-hour chart, with a recent bullish engulfing candle forming a higher low around the 20-bar EMA and closing above a retracement line. The RSI remains above 50 to show positive momentum, and there are no obvious signs of a topping pattern forming on the chart. A break above 7907 assumes bullish continuation and...