Break of consolidationSee chart
Large volumes at the lows
Break of consolidation continue in uptrend possibly
Trade ideas
$ELD - Wyckoff Accumulation StructureThis 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.
ELD.ASX_Range Breakout Trade_LongENTRY: 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.
Breakout with retest and hammerStock 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 a good indicator for an exit with a close greater than 2% below.
Go Long on Elders ASX $ELDWe 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 to an uptrend ".
Go long - 10.82
Stop loss - 9.60
#1 Price target - 12.06
Lastly, if you switch to the weekly for Elders ASX, there was a TD 9.
ASX:ELD ( Elders Limited) Getting ready for next moveASX: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.
Tracking position around $8.8-$9.3
1.4B$ AUD Market Cap, around 2% Div yield, Close to 52 Week high range
First target 10.340 ( minor resistance) and thereafter trailing stop loss on the zig-zag basis.
Views invalidated if close below $7.46 on Monthly closing basis.
#Note: Trade as per TREND, Be a trend follower.
Company details:
Elders Limited (ELD) is an Australian agribusiness company provides livestock, real estate, feed and processing, wool agency services, financial planning, grain marketing services to rural and regional customers primarily in Australia and New Zealand. It also operates red meat supply chains in Indonesia and China. ELD operates through Network, Feed and Processing, and Other segments.
Former Names
Futuris Corporation Limited (FCL) on 29/04/2009.
#Disc: Views are educational & learning purpose only.
ELD with highly compressed GMMA bandsELD 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 little more fuel to the ready-to-burst thesis, price is about to cross the 100period SMA (not shown, free account lol).
On the RSIMA the breach of the average above 50 could round into a bottom above the neutral 50 line.
Finally in volume terms the recent downtrend in Nov - Dec produced no fall in the OBV creating a divergence with price.
Stop loss placed near the established support level
Short ELD 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 behind it. On the weekly the MACD histogram just went to the bear side, confirming its a bear trend with its EMA evidence as well.
ELD - longer term H&S topASX: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
ELD Just thought I would drop the November action (vertical lines) on a line graph of ELD (from the bottom June '13). Volume included. . Also have some of my other markers in there (soz). Just thought it might be interesting.
G
ELD watchContinuation support . Pushing resistance on the H&S. Banks bought in today. Big %. Would be nice to break out. A break around 9.25 would expect next R lvl @12.40.
DYOR
