I like the chart pattern here, and it looks like a cup and handle are forming as well.
Similar to Graincorp, I like the chart pattern here, technical indicators such as TD Sequential, RSI, MACD are showing signs that bulls are still in control and more upside to come in the coming days/weeks.
CSL is forming an inverse head and shoulders pattern. Technical indicators MACD and RSI are looking good for an uptrend breakout in the coming days or weeks.
This stock has been trading sideways since the start of the year, If we can break out of this chart pattern and to the upside, it's a buy for me.
Broke out today, I do expect $FMG to go higher in the short to mid-term just like BHP.
Was 7406 the top for the short term? Was the breakout this week a bull trap? Technical indicators such as the MACD and RSI are still with the bears. If we close below the 21 daily moving average, time to reduce position size and risk until we can close above 7406 again.
XJO looking to tumble soon. Lagging diagonal in white is complete, married with decreasing momentum on RSI, tells me we are due for one. It is unclear for how long roughly though. Lagging diagonals usually herald an intense drop and a complex correction. We shall see, as we live in unprecedented times financially. Goals in purple. None of the above is financial...
Elliott Wave view in ASX 200 (XJO) suggests the rally from February 1, 2021 low is unfolding as a 5 waves impulse Elliott Wave structure. Up from February 1 low, wave 1 ended at 6938 and pullback in wave 2 ended at 6648.6. The Index resumes higher in wave 3 towards 7172.8 and pullback in wave 4 ended at 6919.4. Wave 5 is currently in progress and the internal...
The ASX has just broken its ATH on Monday at 7172 (although I'm told if you add in dividends, we're actually quite a bit higher). However, the moves today (and likely tomorrow judging by the US futures), will likely cause some concerns amongst traders. Its a relatively big move (at least for the last couple of months), but in the scheme of things, today is just 1%...
Looking at this monthly chart the price of the ASX 200 INDEX shows we could have a drop in the market for a few months at least starting in May. The supertrend monthly is down and the price will have to fight at as resistance if it wants to move higher. However historically it has been rejected and a drop lower occurred before it actually climbed over it. I have...
Months of consolidation on the 1d/4hr xjo breaking Apr 6. missed opportunity to go long and add. There was a lot of bearish talk recently but here you go the xjo is moving up for now. see if the weekly chart follows. interesting to note the US E-Mini broke roughly 5 days earlier on the daily. Stalking a few setups within the index so we'll see what happens
ASX:XJO 6565 levels are crucial for XJO previous swing low Second support is at the Fibonacci levels 6453 Also hitting supply zone - previous top that's in a rectangle box.
This graphic is self explanatory but needs to be followed daily if you trade the ASX. This is a wait & watch situation.
The trend is your friend, I am still bullish in this market, however, we must hold the 50 moving average on the 3 Day chart "yellow line", currently sitting at 6400. We have not closed below this level and 50 moving average for months....
The chart pattern is showing a "cup n handle" or inverse head and shoulders as well, go long if we can breakout of this resistance $83.80 More on cup n handle pattern. www.investopedia.com
The chart pattern is showing a "cup n handle", go long if we can breakout of this resistance $5.86 More on cup n handle pattern. www.investopedia.com
Buoyant CSR Ltd (on ASX - green) vs peers Harvey Norman (HVN), GWA Group (GWA); indices XJO, XDJ (light green), XBK (red).