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Origin Energy Limited

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ORL trade ideas

ORG - Bullish Trade PlanORG has bounced off strongly off Support with very High Volume, confirming its Bullish reversal. I expect a little correction to the downside as it looks like it is currently facing some resistance. There is also MACD Bullish Divergence on the Daily Timeframe and I expect a small correction or maybe a backtest of support near $4.20 - $4.35 zone which could give a fantastic opportunity to get long with a target towards TP1 - $5.30 and TP2 - $6.00. Please note these are my own notes, by no means trading advice. Please do your own research before entering into any trade.
ASX:ORGLong
by AsimMirzaTrader
Buying on negative sentiment - bounce playI just bought some ORG, looking for a range bound trade on negative sentiment. RSI at 25 Target sell price at 20% or 70 RSI Triple bottom Stop loss - manual - should be 8% but there could still be divergence that extends past that. If it did diverge I wouldn't sell but look to add more If we look at the weekly, $4 looks to have a lot of price memory all the way back to 2016 - a good sign that buyers will step in and see it as an opportunity / bottom. There is def. some risk / concern around trying to catch a falling knife, and it having another leg down but like the setup as the RSI plummets and volume is declining - a nice sign for an overreaction. ************************ This is not financial advice, I am not a financial adviser. Trade at your own risk.
ASX:ORGLong
by Jicka
ORG - Potential Buying OpportunityBullish trend confirmation indications: 1. Impulsive price action at the break of the Downtrend line. 2. Price Broke out of the Downtrend Line with High Volume . 3. Price is retracing to the Buy Zone (Fib Retracement Level of 38.2% - 61.8%) between $4.50 - $4.85 Zone 4. MACD Histogram showing a potential shift from Selling Momentum to Buying Momentum. 5. Good Buying Opportunity when it confirms Bullish Price Action. Please note these are my own notes, by no means trading advise. Please do your own research before entering into any trade.
ASX:ORGLong
by AsimMirzaTrader
3
Origin Energy - Ascending Wedge Reversal Completion Looms CloserCurrently within the small ascending dotted wedge. We still have some growth ahead of us (up to around 10.50) before we break to downside which is likely to occur around full year results announcement (16th of August). When we break downwards we will bounce back up off the support around 9.50 to retest the breakout level as resistance (around 10.25). We will then retrace further to the green support zone between 9 and 9.20. Although many things can change, if the above scenario plays out then from here it is likely we will build some nice momentum to try and break through the light 9:50 resistance, the 10.20-10.50 medium resistance zone; and then ultimately have a failed first crack at the heavy resistance around 11.20ish.
ASX:ORG
by Corrupt_Economy