Key Technicals - Cup & Handle Pattern, buying on breakout of cup (above average volume) or retest of cup line as resistance becomes support.
Key Fundamentals - Strong management along with one of the strongest balance sheets(ASX TOP 50) according to AFR.
nvidia is a great company, great margins and high demand
log chart supports this. bounce on 200ema region, macd cross, break out of descending channel.
positions: 200 shares (long buy from 400s), 640/650c 8/20 @2
ENTRY: 52.20
TP: 53.48
SL: 51.13
- ADX<25
- RSI>60
- FFI +ve
- RS -ve. Hence enter with smaller position.
- MA are aligned
- Breakout with good volume from ranging since 14 Dec 2020
When we look around the world, it often feels like the sky is falling if you tune into financial media. Well here, we look at the charts and see if we can find trends. We have a new breakout in an important commodity economy. Australia! Let’s have a look at the chart.
So here we have Australia going nowhere since June. Tons of failed breakouts with the wicks not...
Quick pattern update here.
WES appears to have an Inverse H+S pattern forming on the lower timeframe.
A clean break from the pattern would target the $9.30 range, setting a conservative exit, with a close below the purported right shoulder would minimize potential for losses.
WES has been one on my list for a while lately and I recently closed a position for...
Ticker: WES
Position:
~ $4.00 Strike Calls
~ May 15th Expiry
~ Cost = $0.40/ contract (at time of writing)
~ Delta = 0.56
~ Run 5x contracts = $200 total outlay for the trade (subject to change)
Profit Targets/ Exit:
~ Due to the low cost of the trade, i will likely not run a stop on this position, but i have...
Ticker: WES (right side is XLE for comparative purposes on a weekly)
Position:
- Feb 21st Expiry
- 5x $20 Strike Puts (ITM) - delta = 0.60 - cost = $1.38/ contract
- 5x $18 Strike Puts (OTM) - delta = 0.19 - cost = $0.35/ contract
- Should the stock move to the initial target, the OTM options will be more than covered by the ITM options increase in premium
...
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Wesfarmers Ltd (ASX: WES) is often regarded as one of the best blue chips on the ASX.
Breaking out today and heading higher ahead of earnings.
Technical indicators are bullish.
Good stock to buy and hold.
