ALD: March 5, 2024ALD (Ampol Limited) || March 5, 2024 Master of Elliott Wave Analysis: Shane Hua (CEWA-M) (Left chart) In the broader context, we observe that the major trend is bullish, despite the current price increase appearing somewhat lacking in strength and sharpness. Nevertheless, this is generally acceptable. Wave iii (circled, green) seems to have concluded at the high of 39.76. There's a possibility that wave iv (circled, green) will soon turn bearish towards the 0.382 to 0.5 target, which are common retracement levels for the fourth wave. Following the completion of the 4th wave, we can anticipate Ampol Limited moving higher in the 5th wave. (Right chart) As for the short-term outlook (4-hour chart), it provides a more detailed depiction of the situation. It seems that wave (a) of wave 4 (circled, green) may have reached its conclusion. Therefore, I expect wave (b) to push prices higher towards the target of 0.382 to 0.5, followed by wave (c) returning lower to complete the entire correction wave 4 (circled, green). In summary, I'm open to the possibility of a slight dip in the fourth wave before the bullish momentum of the fifth wave resumes.ưShortby ShaneHuaUpdated 2
Comparison of ASX energy stocksThere's more devil in the detail. - not all of these produce oil/gas, some are more retail/distribution orientated. - some are in different stages of developing resources. - some have responded faster to recent oil/gas price spikes. by aspiringguru0
#ASX #ASX200 #Stocks #investing #tradingHi all, Keep an eye on it. Plan your entry. Enjoy!Longby TheCoinsofCharon0
AMPOL to DIP to 26.06 in coming daysOn a 2 hour chart, AMPOL is moving in 5 wave pattern, with Wave 3 completed as displayed on the chart. From here it should drop to 26.06 where it will meet daily support, before bouncing up to 31-32 zone. Expect a major drop once it reaches point 5. I will create new analysis once it is close to wave 5. If you like my analysis then do drop a LIKE and a COMMENT. Also do SHARE it with your friends. Also don't forget to smash that FOLLOW button to get daily analysis of multiple crypto currencies and sometime ASX stocks. Note - These are my personal notes and in no way a financial advice. Do your own research and Trade wisely Shortby Manjyot1
ALD BreakPosting for interest to see where this ends up next week. Oil rising for the moment and Q1 results released. 1d confirmation April 16th by Gusset_0
ALD - A Buying opportunityI am bullish on ALD , the chart looks positive as it has made Higher High and even a golden cross. There is good support between $27.50 - $28.50 range, as its also a High Volume Profile Zone and we can see Bullish Price Action after some consolidation with High Volume. MACD Histogram is changing color, cold be a possibility of a shift in Bearish Momentum. I am expecting continuation of the upward trend. First Take profit at $30.00 range. Second Take profit at $33.00 range. Please note these are my own notes, by no means trading advice. Please do your own research before entering into any trade.Longby AsimMirzaTraderUpdated 0
ALD long after breaking out of baseEntry: 31.14 Stop loss: 29.56 Broke out of rounding base pattern today with volume and SMAs aligned.Longby TheTradingBayUpdated 0