S&P ASX 200 Australian index long bias.
Previous strong weekly demand level in control from around 5720. New very strong weekly demand created at 5804
Waiting for weekly highs to be solidly broken before going long again. Longs lower at weekly demand imbalance or new
daily and weekly demand zones if weekly highs are broken
ASX is approaching our first major resistance at 5885.8 (horizontal pullback resistance, 50% Fibonacci retracement, 61.8% Fibonacci extension). A strong drop might occur below this level, pushing price down to our major support at 5692.5 (horizontal swing low support).
Stochastic (89,5,3) is also approaching our major resistance and is seeing a bearish...
CSL parabolic move.. This latest run has been fastest and sharpest.. Wait and see if it stops here or goes to 170 for any short opportunity.. Hedge funds manipulate this heavy weight as others are struggling in the ASX200
This is my first published idea so be kind. Always appreciate feedback.
This is not financial advise, just my thoughts and opinions.
TWE is looking good after a brief period of consolidation around the 17 mark.
It has rising volume and is showing signs of a good move up early next week. Today the price moved well above the recent consolidation zone (see chart)....
ASX:AWC
Looking for this stock to rebound from its sharp sell off. It followed the market down.
Its a watch and see at the moment and will assess tomorrow.
AMC Looks to be topping out at the moment and is worth shorting. Short term target is $14. Medium term target is $13.
I have done no fundamental analysis on this stock and am basing the trade purely on the RENKO Traditional 0.50 chart.
ASX:AMC
ASX:BXB
Looking at this on a RENKO Traditional 0.50 chart has this stock turning into an uptrend.
He only issue I see here is the moving Average is still pointing up. This is a warning sign this stocks new uptrend may not be as solid as I would hope.
Staying out of this one as I think its a false positive on the turn but I am posting the idea for Historical...
The recent sell down on AUS index is kinda strong.
The bearishness is still in play.
It may go lil lower further till it meets strong solid support from BULL side. Just keep in mind that we are still in Bullish long term.
Trade Safe
s0nic
Disclaimer:
The information contained in this presentation is solely for educational purposes and does not constitute...
