ASX: BXB (Brambles Limited) || March 9, 2024
Master of Elliott Wave Analysis: Shane Hua (CEWA-M)
Bottom line: BXB may continue to rise higher.
(Left chart): The context analysis provides a comprehensive view, indicating that wave ((ii))-green has concluded at the low of 12.70 and wave ((iii))-green has unfolded. Price action has risen higher, completing waves i,...
ASX:BXB
Simple price action analysis for Brambles stock listed in Australian market
gives you clear understanding how VCP pattern works
I don't have position , no recommendation
Brambles caught my eye last week 21-Jan, and looked good an pumpy. Was $14.25 when first spotted.
My guess would be it reaches previously all time resistance, forms a double top. Will be better entry points, and worthwhile waiting a few weeks to see how this pans out.
I have seen better opportunities in the ASX, not one I'm currently looking to dip in at....
BXB is pulling back currently and has found support on the 200SMA and the POC of Volume Profile around $1.090. If it shows bullish price action within this zone or breaks lower towards the trendline, I would be monitoring to take a long position after bullish price action confirmation. Lets see how it develops.
Please note these are my own notes, by no means...
Brambles is one to keep an eye as the range tightens inside the triangle pattern. breakout is coming soon.
Which way it breaks your guess is as good as mine, however, if we go off the last decade of BXB chart patterns we should see a bullish breakout.
Additionally, Todays trading update: www.asx.com.au looks promising.
BXB has clearly broken its downtrend and has made a swing high. Price is expected to pull back and I am expecting it to reach towards my Buy Zone between $10.70 - $10.80, which is also trendline support. I will be looking at price action in that zone for a long opportunity and my targets will be the previous highs and above with a stoploss below the new swing...
Brambles entered a classic Symmetrical Triangle since the Pandemic. it has posted weekly gains for the past 3 weeks. the Elder Impulse system has the last candle Green which is a sign to go long. Waiting for it to pass the down tending line before taking a position
This is based on ' The Anty' strategy in which after a normal correction degree, there is at least the same or better recovery in price - a neutral to bullish strategy is bull put spread ( paid a credit) and with only 8 days until expiry benefit from time-decay at a fairly high probability scenario....it needs to close below 10.98 at expiry ( using european style...
hey traders,
this looks to be completing a daily flat pattern, once this is complete, if not already, we should see the weekly trend upwards take over. looking for long opportunities on lower TFs would be a good idea
regards,
TM
BXB is hanging in there by a thread.
Note that the lower high and lower low, as well as the completion of a Demark Sequential sell countdown prior to reaching the support level after breaching the previous buy support level.
Breaching through the buy set up support would be a substantial lower low and could see a run much further down.
-Massive 3 and a half year drooping Head & Shoulders
-I cant see myself effectively getting short without some sort of a launching pattern
-Will continue to monitor
ASX:BXB
Looking at this on a RENKO Traditional 0.50 chart has this stock turning into an uptrend.
He only issue I see here is the moving Average is still pointing up. This is a warning sign this stocks new uptrend may not be as solid as I would hope.
Staying out of this one as I think its a false positive on the turn but I am posting the idea for Historical...
