Technical analysis for AWC Stock based on Trend Analysis, Chart Pattern and VPA 1) In Monthly TF - Rounding Top pattern formation completed. Dec 2021 candle has break the DTL. - Current price candle trend had significance retracement and rebound at Fibonacci 0.786 indicate new trend establishing itself. Current uptrend movement move higher with increasing volume,...
AWC has broken out of its downtrend line and rocketed higher last week without any pull back. It may find resistance up in the $2.100 zone, and any pull back lower shall be a great buying opportunity. My area of interest is the old broken resistance zone between $1.780 - $1.80. Lets see how it goes. Please note these are my own notes, by no means trading advice....
ENTRY: 1.595 SL: 1.690 TP1: 1.510 TP2: 1.435 - ADX<20 - RSI<50,RSI>30 - Daily RS -ve - Daily FFI -ve - Daily MACD -ve - Weekly RS -ve - Weekly FFI -ve - Weekly MACD -ve - Broke out from triangle on 16 Jun 2021. - Retraced and rejected trendline on 28 Jun 2021. - Possible hidden selling on 2 Jul 2021. - Breakout with good volume on 7 Jul 2021.
We can take a long position after breakup and a retest to the trendline. ASX:AWC
My trading bias for AWC is Bullish as it has clearly bounced off the lows (Support), High Volume Profile Zone and the lower edge of the Pitchfork Channel, suggesting that Bulls may have taken control. I think that AWC should continue moving higher. TP ~ $1.820 (potential 9% gain) Stoploss - below $1.600 Please note these are my own notes, by no means trading...
Good stock to have in portfolio. Looks pretty strong in monthly and weekly charts but daily charts tells little more. doesn't look bull will able to take it further upwards. I think it's going to give good buying opportunity at $1.60 - $1.50 range. Where volume provides good support. even if 1.50 support fails, there is strong support at around $1.43...
AWC have a Really bad time at its fundamental (hotels and tourism) and on its way in Mark down phase. The idea is to wait for the breakdown for shorting at 3.70 with the small stoploss at 3.82 its first target price is at its old bottom of the cup around 3.20