ATG trade ideas
RBL long setupThankfully, I got this analysis right previously. The support have been holding, we saw a divergence so probably a good time to buy? Lets see how this turns out.
RBL - A potential Buying OpportunityRBL has pulled back strongly in 2021 and has potentially found support at the Fibonacci 61.8% level, from where it has bounced off and currently has pulled back again towards the same level. The recent price action suggests that it is a good support level and any bullish price action may be a good sign that price may swing to the upside. I may take a long position once bullish price action is confirmed and will aim for the recent Resistance level of $4.25 as TP1 and $4.70 as TP2.
Please note these are my own notes, by no means trading advice. Please do your own research before entering into any trade.
Good entry point with great risk to rewardPrice drop off earnings but business is looking strong. Cash in the bank. Looks to have found support on lower trend line. Possible further drop to 5.52 (december dip). Looking for bounce off lower trend all the way back to top of channel. Risk to reward is great here.
Entry at 5.98
Stop at 5.92
Target 7.8
RBL.AXBullish retracement to the 0.286 and bounced to make a new high.
It's bullish from the point of entry until it isn't
Cheers
Toby
High probability - Bullishness to continue - Ascending triangleFrom a technical point of view the RBL chart has a bullish ascending triangle breakout. From the Fundamental side the CV19 tailwinds are extreme for RBL with the online retail. Additionally, the most recent report highlight being sales of 26 million in masks, you would think that trend continues to grow for the forseeable.
RBL:ASX - REDBUBBLE LIMITED - 700% run.RedBubble is looking good doubling down on both the ecommerce, and work from home side hustle industries post covid. It looks like it has built a bit of a base post earnings and then broken out above a recent resistance area. RSI might be a bit overcooked, so perhaps wait for a pullback and test to confirm support. Worth a watch.
RBL trying to recover from the abyssRedbubble has been pushed to the depth of the bear market but it looks like it is recovering. Should we cheer it up and say that the worst is over? Lets analyze:
Bull case:
Having upwards trend for the velocity
Epic volume on 14/04 which keeps pushing it high till now
RSI not overbought yet
A kind of double bottom
Closing a week on a green candle
Bearish case:
No fib level taken out and still below 0.236 fib
Below 50SMA
From this we can say that bulls have more chances but dont put your hopes too high before at least taking the 0.8 levels. After that we can enter a long position with a tight SL as this stock is used to reverse the course and stay bearish for days.
RBL a little bit boring atmRedBubble was unable to show a bullish TA patter despite a good announcement. To me things will get interesting when it hits 0.8 and closes a daily candle above. For now I am keeping an eye on the TA and waiting for any further development.TP Targets will be as of the Fibs shared on the chart and probably 50MA and 200MA when conquered
RedBubble aka RBL about to break outRBL is looking promising to get out of the bear market. It has already broken the 50MA, next target is the 200MA and then next target will be in the 1.46$ levels. Next posdible target will be in the 1.8$ levels.
Bullish Forecast...Long term forecast here...support zone marked must hold to remain Bullish, Should note that the area marked above is the minimum/most probable zone for a wave 3 and we can overshoot it by a lot.
Redbubble - Oversold? RSI & MACD analysisRedbubble was heavily sold after reports that Google Algorithms had been altered and affected its organic growth of online sales. This is however one channel for growth separate from its expansion into different geographies, paid partnerships, network effects and new product lines, that would support its future growth. Fundamentals still support this growth and we would expect that growth this year may be sluggish as the google algorithms are adjusted from Redbubbles end.
Risks:
-Competition from Amazon Merch should it direct its efforts in niche experiences (however not anytime soon).
-Etsy and other platforms (makers platform, marketplace)
-Further disruption to google algorithm
-Copyright of products on its website (see preso for more info)
RSI and MACD appear to support that price could be still appreciating between support line prices. Will need to monitor for breakout.
Contracting triangle breakout?Coming off recent double bottom and hammer candlestick on the day chart.
Short-term - Looking for 3-5 day rally similar to previous.
$RBL strong demand emerges on Earnings updateRBL potential new emerging ASX company with a breakout looming with a consolidation below all time highs.
