Due to oversees markets, the ASX 200 could be pointing lower today so risk off. This is why i'm looking into consumer staples stocks such as BUB, on the weekly it's on a up trend so looks good for future run up and on the daily it has a nice pull back on the 20 EMA. It also hit a key levels on fib levels as well.
This stock is over extended big time, looking to short to the down side. Reason: it's out of its 2 standard deviation, the EMA are struggle to catch up with it and its at a new high as well. Looking to counter trend.
They say ASX is going to open higher today, that could happen, but it is sitting on Res as we speak. My view could be that it might pulls back today just due to bad GDP data came out yesterday. Also, the Staple sector has been showing some strength for the past four days, therefore I’m looking at this stock today. Massive gains to the upside it is sitting outside...
BUB waiting for a break out? Bullish symmetrical triangle with correction waves a,b,c,d and e formed. I would watch the volume closely. Should we get increased volumes in days to come and with the price action upward, it is a buy.