Trade the trend, "the trend is your friend". All three indicators MACD, RSI and CMF are pointing downwards which tells me this stock can break the support line. Thus, going down fast! We could go as low as 85 cents at this stage. A good buying opportunity coming soon. I will keep it on my watchlist.
The 4 hour chart does not allow me to discount a trip to the 6320 level. This is not a market to trade in and sitting on your hands is the best thing you can do at this time. Going short is not advisable either
I will be watching the 50-day moving average support very closely. For me, I think it will be broken and we are likely to see a small pullback in the ASX200 this week.
The Australian stock market (AXJO) is currently rising after a strong pull back that took place in July. This rejection happened because the market reached its All Time Highs of October 2007. Despite the rather strong selling manner in which it was conducted, we believe that this sell sequence is not over yet and a stronger correction is needed. The reason for...
After reaching all-time highs previously set in 2007, the ASX:XJO has formed a significant bearish candle on the monthly chart. The bearish engulfing candle on the monthly chart has formed at the convergence of the of the 2007 all-time high, and the upper channel of the range the ASX:XJO has been trading in since 2009. This could potentially signal the beginning...
Some support zones that correlate to the Fib replacements. For short term trading I am looking for 6512 and 6300 as bounce points.
I have sold off all capital and moved to BBOZ 2x Leveraged SHORT TMF. high risk but i live for the biscuit!! massive amount of bearish div. across multiple time frames on RSI large long term distribution pattern (megaphone or expanding / diverging wedge) new ATH on index fractalised bearish patterns. parabolic year to date, floundering and failing housing...
Australia's primary equity index (ASX) is seen here through the S&P/ASX index (XJO). Here we can see that ASX is retesting its prior highs from 2007 before the great recession hit. Will be watching for a good-sized pullback soon given the vertical run that the ASX has been on this year. Will that have any impact on the U.S. or other major stock markets? Not sure,...
The Australian AUS200 or XJO index (ASX S&P 200 index) is fully valued at its 100% DCF value using 3.5% growth, 8.2% discount rate. The earnings for this index are less than at the top of 2007. Its P/E ratio is overvalued at 18. Australia's construction industry is in rapid decline and also its housing markets. Short term interest rates are in decline as...
ASX 200 has been rebounding well from late-Dec of 2018. It has been continuously climbing higher and higher in recent months. Now, it is constructing The Infamous M-Peak (Double Peak), with a very first target of 6530, then 6320.
Just some interesting confluence of recent moves. Point to a $28.20-$28.50 end point? If it gets that far, one would have to think it will need to tap $30??
It has completed a retracement back up to 6274 (0.886% fib level) of the move down from 30/08/2018 to 21/12/2018. It is now forming a H & S pattern on the 4 hour chart. Watch for a break of the neckline on bearish sentiment or a bounce back up if the neckline holds. Current RSI below 50
Completion of reporting season which followed after the financial sector royal commission. Will start to see profits taken from this months small rally before a second chance of accumulation will present to target the prior top
Trade Set Up – We would be looking to enter on a daily close above 5780 with stops confirmed once entered, and a target level of 5980-6000. Why we like this trade – Whilst history is no guarantee of future price action it is important to note that a correlation in a Dec move over the past 10 years has yielded an average of +2.74%, all of which starts from the...
I'm famously and very publicly BEARISH on most markets at this time how ever this top i believe will broaden, in the mean time we have a nice Inverted Head and Shoulders forming to create our B 'leg' of our ABC correction right now, could be a good gainer on a few market big wigs or just an ETF. Looking to enter LONG on breakthrough of neckline, assuming we don't...
With no imminent economic risk either local or global, it's hard to see the LT uptrend broken at this stage. However, it's too early to call this the bottom.