See chart Large volumes at the lows Break of consolidation continue in uptrend possibly
This analysis is for my learning purpose only - DYOR. After year long consolidation in the trading range, Elders broke the trading range and jumped across creek (JAC) and tested back up to creek (BUC) on low volume. A text book Wyckoff accumulation structure. Lets see how far it runs before it starts to re-accumulate. Thanks.
ENTRY: 12.50 SL: 11.77 TP1: 12.86 TP2: 13.22 - ADX>20 - RSI<50,RSI<70 - Daily RS +ve - Daily FFI +ve - Daily MACD +ve - Weekly RS +ve - Weekly FFI +ve - Weekly MACD +ve - Breakout of range today with high volume and also engulfs yesterdays red candle of high volume. Showing possible buyers back in control.
Stock broke from a pattern largely resembling a cup and handle, with the breakout resistance indicated by the purple line. Stock has since retraced to the breakout and found support with a good hammer candle on the retest. Seeking a measured target as shown based on the depth of the cup. Stock has used the 20 EMA as a pivot point for an extended period, offering...
We saw a nice breakout for Elders on Friday, however, the stock price failed to break the moving average. If we close above it next week it will be a buy signal for me. MACD, RSI, and DMI are bullish and the stock would more likely to go up from this breakout. Similarly, the Lucid Sar ( AKA Parabolic SAR) is showing a change in direction as well." Downtrend...
ASX:ELD As per my observation & Study. Trading + Investing Idea Momentum building up ( Higher high - Higher low) on the monthly and weekly charts PriceAction (Zig-Zag) changed for next leg move. Good support around $8.83 ( possible entry price) Company has been relative to ASX200 has neutral to the performer at best for the last couple of years. ...
ELD has significant GMMA band compression on both the long and short sets of bands. Note that the green shorter bands have been able to pierce the red bands are now retending upwards. The last two similar situations for ELD circled in white, with compression of long EMAs of the GMMA following green bands piercing, preceeded significant uptrends. To add a...
Due to oversees market the ASX 200 should be opening on a positive note and that could lead to consumer defensive sector on the downside. This is why i'm looking into shorting ELD, on the daily it had 3 down days and took a breath for a couple of days. This could lead to a further down to $5.26 a key level, on the TA side its a down trend follow by its EMA right...
ASX:ELD Inverse H&S topping pattern, short the break under 7.20 Stock is under the 200d which is acting like a lid Stop 5.60 area. May take a while to play out as a slower mover