Hello Fellow Trader! PNV.ASX flag break for possible $2.80 test. breaking out of flag with strong sell off into close. A hold above $2.50 would be a great opportunity to target $2.80. PNV.ASX - Polynovo LTD is an Australian-based medical device company that designs, develops and manufactures dermal regeneration solutions using its patented NovoSorb...
Hello Fellow Trader! Price pierced through resistance ($2.87) with volume and cleared the range where it’s now coiling above under the 200 EMA. ABP.ASX has not touched the 200 EMA since the pre Covid drop. ABP.ASX – Abacus Property Group is a diversified property group specialising in Australia’s core commercial sector including office, retail, and industrial...
Hello Fellow Trader! Nickel index quite strong last week increasing by 6% and potentially heading to test August highs. WSA has been supported at the 61.8% Fibonacci retracement closed above a multi-month trend line with volume. Western Areas Limited is an Australian based nickel sulphide explorer and producer with its core 100% ownership asset in Forrestania...
Hello Fellow Trader! WEB.ASX sitting inside the channel awaiting any type of Covid related vaccine news for possible expansion. Key levels broken at $4.00 with volume support now testing resistance at $4.20. A breakout could suggest $5.00 target at a minimum within the trend channel. WEB.ASX bottomed out in April but failed to break the low soon after. With...
Hello Fellow Trader! ORE.ASX - Lithium producers have been some of Australia’s favourite stocks for several years supporting the worlds change turning to renewable energy in the battery space lead by Elon Musk and Tesla. Last weeks Tesla Battery Day was hyped up to be an extremely positive presentation that would skyrocket lithium back into the Australian...
Hello Fellow Trader! Z1P has been well supported at $6.30 for the past week, even during that short term sell off after Presidential debate, buyers came back through holding price within this range. Many signals on the daily and 1 hour are now suggesting further support to the upside, and a recovering Nasdaq’s 8% rise since the 24th of September suggests the...
Please share with me your thoughts, Kind regards,
Hello Fellow Trader! The US500 and Nasdaq continued their falls and finishing in the red on Friday. The ASX200 also had two consecutive lower low days breaking slicing below 6000 to finish the week also in the red. We could see slight recovery back into the 6000 which is key for the advance, or rejection indicating falls the ASX200 has not seen since June....
Hello Fellow Trader! View: Beach Energy Limited (BPT.AX) coiling above a daily trend break and finding support at $1.50. In the month of August, Natural gas spot price finished up 44% and Oil up 8% to support what could be an undervalued company imbedded in the ASX during a pandemic, leaving most investors in limbo on where to invest their money. Their full...
looks like more upside awaits on share price in 2020-2021
This stock looks interesting to me. Currently, it is still in the accumulation area and there is a potential double bottom formation in the golden ratio of Fibonacci. This type of trade is a swing trading thus it may take a few weeks to months to reach the respective target.
started to look at stocks in ASX long term so dont have to be actively watching market all the time. currently long on this stock cause float price has been broken and yearly Pivot point mean has been broken. also looks like a inverted HnS so holding to the red line. the inverted scale option on TV is handy to see the head and shoulders with a wick test of the...
What an IPO, what a run! The tight share structure of the company (25% of the company is owned by the Management and founders) sent the stock to $4.6 today. After the incredible Kirkland Lake story, the Fosterville region is more than ever keeping its reputation of creating lots of money. What about value? Is this stock interesting from a fundamental standpoint?...
The multimonth range that started in October 2018 was broken to the upside at the end of April. The confirmation pullback with large selling volume, along with buyers coming in today suggests a low was formed and a new rally is now in.
I am expecting an ABC correction in XJO in the short term. I think we are about to see the start of a C wave this week unless we can break that trend line. MACD indicates a " sell " signal. At this stage, I am still bullish in mid to long term as long as we can STAY above or inside the triangle + above the 50 MA.
Expecting wave (5) will carry the share price to new all time high
For the first time since the stock price peaked at 13.26 in May 2017, the weekly price bar penetrated the red multi month downtrend line. If this is a valid breakout, further consolidations in the lower time frame would likely to signal a buying opportunity to catch the potential wave (5) rally. Note: divergence between share price and technical indicators
Hello Traders, Looking at the chart we can see price has been in a well defined channel for the last 10 years. It has taken that long for the price to crawl back up to the previous 2007 top and I mean crawl. From an Elliot Wave perspective these are some unhealthy looking waves with deep retracements each time basically invalidating the EW principle. Either way,...