My Trading Bias is Bullish as we have witnessed a clear break of the Bullish Wedge Pattern (Triangle) coupled with High Volume and MACD Cross. TP - 0.160 (Potential 25% Gain) Stoploss - 0.085 Please note these are my own notes, by no means trading advice. Please do your own research before entering into any trade.
With Earning Report out of the way now, and after smashing surprise positive earnings, SCP managed to break out of the Bearish Trendline with High Volume indicating that the Bulls are now in control and want to take the price higher. It has gotten Support right at the edge of the trendline and at the 61.8 Fib Retracement Level, and also the 200 SMA. I will be...
A2M is at a very important juncture, currently at $10.20, and the market now is waiting for the announcement of its earnings report on the 25th of February. A2M has been consolidating between the range of $10.00 and $11.00 range, (50% Fib Retracement Zone) since the plunge in price. This (50% Fib Retracement Zone) is from the initial lows in May 2015, to its all...
IAG made its lows of $4.30 in the end of September, then it pumped up and made a High of $5.50 in the mid of November, breaking the bearish trendline, with very High Volume. This indicates that the trend may have changed, and since then it had been pulling back and formed Bullish Candles at the 78.6% Fib Retracement Level of $4.55. I think it has already made some...
QAN had been retracing lower since the last two months and have found support just at the lower edge of the Parallel Channel (Trendline) ($4.40 - $4.50 Zone), coupled with Above Average Volume and a MACD Cross. It has retraced to exact 50% Fib Retracement and is showing some Bullish Price Action. This Bullish price action off Support suggests that the current...
ALU has been coming down hard and has stopped falling right at $28.00 (Support 1) all the way from $40.00. If this support somehow breaks, then it might come down and test Trendline Support of $26.00 or even come down to Support 2 level of $24.00. In either scenario, we are very close to Support Zone and should be ready for a turn around in ALU. My target for...
FLT seems to be retracing nicely to the trendline Support at around $12.80, as it has shown strength previously also, and made a Higher High. We can also see that it has made a Golden Cross, with RSI about to reach the the Oversold region. The High Profile Volume Zone lies at around $13.80 and 200 SMA in the Buy Zone between $12.80 - $13.80 (many Confluences). I...
CTD had broken out of the downtrend line in October with High Volume, and followed through with Bullish Price Action in the Month Of November. It made a high of $21.76 on the 26th of November and since then it has been retracing lower. Recent price action suggests that its retracement is over after finding Support and bouncing off at $15.50 (200 SMA). Currently it...
IN early Nov, I wrote about how ASX:CCP would recover and break thru. After a whole month of consolidation between 23-26 dollar range, it finally broke thru previous high of 26.62 with the news (hotcopper.com.au). On fundamental side, CCP is a debt collection company. its acquisition of the other company's debt, with a great price represented two catalysts...
Z1P broke out strongly last week as expected and was got rejected immediately when it reached its previous Resistance Zone of $8.30 - $8.50. Currently it is hovering between the range of $7.00 - $7.70. I think we could see a bit of consolidation before it continues going higher. I think the best level of Support is around $6.60 - $6.70, which is the Trendline...
Since the March 2020 lows of around $15.00 to the Highs of $43.60 recorded in late August 2020, we have witnessed weakness in price value, but I think that APX has now found good Support at around $22.00 level, which is also 78.6% Fibonacci Retracement. I think that we may see some Consolidation (Accumulation) or a rise in price above the mentioned Support Level...
LLC seems to be pulling back nicely to the trendline Support at around $11.70, as it has shown strength previously also and made a Higher High. We can also see that it has made a Golden Cross, with RSI in the Oversold region. The High Profile Volume Zone also lies at around $11.40, so it seems that the range between $11.40 - $11.80 should provide good support,...
When the price opens above a significant resistance area it is known as a Breakaway Gap. This is a bullish signal and indicates the start of a strong trend. Although some would argue that gaps must be filled it is important that we identify what type of gap we are looking at. Breakaway Gaps are usually backed by a positive announcement and in this case it is; ...
✔ Facebook Partnership ✔ Ebay Partnership ✔ Harvey Norman Partnership Holding above the 200 Daily MA Z1P prepares to break out above resistance. Z1P recently announced a SPP (share purchase plan) @ $5.34 per share. Ending on the 13th of Jan, the SPP may lead to a sell off as the current price is 3.8% above the offer. Long term growth remains promising - BreadCharts
Not my fav set up here but looks a fairly high probabilty trade. Technicals - Ascending triangle formation, entry on triangle break with bullish candle confirmation. Fundamentals - materials sector is expected to get plenty of activity from various government stimuli, plus, low interest rates environment is beneficial. Additionally, the market expected a much...
I am bullish on ALD , the chart looks positive as it has made Higher High and even a golden cross. There is good support between $27.50 - $28.50 range, as its also a High Volume Profile Zone and we can see Bullish Price Action after some consolidation with High Volume. MACD Histogram is changing color, cold be a possibility of a shift in Bearish Momentum. I am...
This stock had been hit real hard during the COVID -19 pandemic because of plummeting Oil Prices. Now that we have observed Higher Oil Prices, and particularly WPL has been going up now, I believe the trend will advance further up and we may see much higher prices in the days to come. We can see a Golden Cross, MACD has crossed and High Volume, which shows the...
Bullish Confirmation Indications Recent price action has confirmed a reversal by pumping upwards and forming a higher high. 1. Price has formed a higher high 2. It has formed a Golden Cross 3. After forming a Higher High, price failed to continue upwards and is now pulling back 4. This pull back has come down and has entered in the Buy Zone and Fib retracement...