Welcome to RiskMastery's Red Flag Stocks - Stocks with bearish potential.
In this edition, we'll be looking at ASX:S32 ...
I believe this code is at a point of potential volatility.
If price can hold below $3.24 ... Bearish potential may be unlocked.
My key downside targets include:
- $2.69 (Conservative)
- $2.45 (Medium)
- $1.955 (Aggressive)
...
Since the Inverse C&H, the price broke below the brim level and since then has been on a downward trajectory.
The downtrend, was the other confirming indicator that this was about to drop.
I definitely didn't expect the drop to be short and explosive, but for a trader it's always better to be in and out.
Now, there will most likely be some chop in the...
Inv Cup and Handle formed on S32 and the price broke below.
Not the momentum is picking up and things aren't looking good for it.
We have other indicators...
200>21>7
RSI<50
Target 1 will be at R37.31. But I'll update as we go.
ABOUT THE COMPANY
South32 is a global mining and metals company.
South32 was founded in 2015.
The company was initially a part...
Symmetrical Triangle has formed on South 32.
But we need to WAIT for the price to break up and out of the apex.
That will fulfil the Continuation pattern of the triangle.
Also you can see why we have to wait is because of the other indicators.
Mixed MAs
RSI - Middle
Target R58.34
WAIT FOR BREAK
ABOUT THE COMPANY
South32 is a global mining and metals...
Note: Funcharts are interesting charts I have found that offer a potentially unique perspective on a stock. Sometimes I’ll throw something out there that you might find controversial or wrong headed. If that’s the case your 2 cents worth is most welcome.
South32 (S32) on the ASX has been led by Gold (GLD) by 139 days through history. Go ahead and check out the...
South32 is a globally diversified metals and mining company. They mine and produce bauxite, alumina, aluminium, energy and metallurgical coal, manganese, nickel, silver, lead and zinc in Australia, Southern Africa and South America. In May 2015, South32 successfully demerged from BHP Billiton and listed on the Australian Securities Exchange, the Johannesburg Stock...
