Fundamental and technical reasons align. With the announcement of plan-of-record from big customer on the 3rd April, management may upgrade guidance soon. The base risk price is $2.3 fundamentally, and with semicon recovery in sights, this may get an upgrade soon.
AEM shows strong selling momentum this morning but with the volume creeping up. It is likely that there will be a short covering. As such, we could initiate a buy and aim for the 1st target at 3.91
1. Price made a new high
2. Bullish price action
3. Entry Price and Stop Loss Price are defined. Take Profit is your decision to make. :)
Good luck to all.
ENTRY: 3.60
TP: 3.82
SL: 3.39
- ADX<25. Prefer it to be higher.
- RSI>60
- FFI +ve
- RSI -ve
- MAs are aligned
- 10MA about to cut above 40MA
- Break downtrend line on 4 Jan 2021 and held up well today with volume.
AEM looks to be finally breaking out of a long term bull flag which was in the making for almost 2 months. Will to test this breakout with an initial stop @ 3.12 (just below today's candle low) and with an intermediate target of 3.50 and a longer term target of 3.75 (40cts channel width projected onto the breakup level @ 3.25).
Disclaimer: This is just my own...
Stock is in an uptrend both short-term and long-term. Institutional Buyer (Morgan Stanley) increased deemed interest by about ~1.5m shares. The stock is growing with potential to long.
Suspected wave 3
Wave 1 to 2 - retracement of 0.618
Wave 3 - reaching 1.618 to 2.168 range (under monitoring); wait for Wave 4 entry.
3 EMA crossover (22, 55, 100) = positive
E.W invalid if Wave 4 retrace > wave 1
RSI entering > 70 (potential range RSI - 70 to 90; high risk - past history shows up to 90 for AEM; either wave 3 continue or wave 4 in progress)
Trade...
Update 18 Sep 19
Its closed at 1.21, Its getting near to the Resistance .
RSI is above 60 .
Unless the is a New contract, I believe it will bounce back to the support.
Long AEM
Entry: $0.95 - $1.00
TP: $1.24
Market testing descending pull back support line and approaching supply and demand zone.
Price holding above 21 EMA support with MACD also starting to cross into bullish territory.
Market drop in progress towards Trend level at $1.00/$0.97 region. After which an intermediate bounce is expected.
Market reacted below desceding trendline resistance
RSI (21) reacted below 53% resistance level and has entered bearish territory below 50% level.
RSI (21) 53% resistance level is also where price has reacted many times in the past, as seen...
There are a few bounces off the support line near 0.915 ~ 0.920 You should be able to notice where is my take profit level for my trade.
When entering the trade , do take note of any candle pattern to indicating start of the trade. eg. hammer reversal/engulfing
Feel free to post any comment/question or any idea that you wish to share. I am more than...
