About meThis post and ALL (previous and future) posts are purely for entertainment purposes only. The owner of this post is not a lawyer, accountant, financial advisor, investor or pastor. All the comments here are personal opinions.
Too early to tell but i am jumping the gun here. We need a close above 0.73 and a confirmation as well to be (more) sure. I do really like the forming of the bull flag in the weekly. In addition, there's a mini ascending triangle forming in the bull flag. Let's go!!!
Target : 0.89
Close below 0.65 invalidates this outlook.
ASX:RHL I am adopting a wait and see first strategy for this stock. The bear pennant doesn't seem to excite me although
1. price action closed just slightly above the cloud for about 4 weeks already
2. declining volume probably explains why it has been rather flat
3. RSI showing positive signs both daily and weekly
but i will still wait out for confirmation...
NASDAQ:AAL the 28 day ascending triangle is not a very strong trend that i will usually trade. There's a strong resistance at $40.47, if we manage to turn this resistance into support, I target at $44.13.
For safer entry, a break with confirmation above $40.47 will give a better risk reward.
A break below SL will nullify this bullish take.
ASX:QAN The 189 day ascending triangle is nothing short of exciting for me. When such a long trend happens, it happens for a reason and usually the break out will be 'intense'.
Watch out for it.
Earnings announcement coming on the 23 Feb. Keep a lookout for it. Conservative target at $8.28.
A break below $6.19 will invalidate this bullish outlook.
ASX:AQZ is now testing the bottom of the trendline. If broken, look for support at $1.685.
Alliance Aviation looks like a good buy now, however, the risk of it falling out of the channel is still present because the RSI has yet to curl up and the 10 and 21 ema(s) are starting to curl downwards. I wouldn't catch the falling knife although some people love catching...
I am very tempted to buy ASX:SRV now because I think the chances of it breaking out of the small symmetrical triangle is high. CMF is strong and positive and RSI is about to cross the midpoint. If you intend to take the risk and enter now, I would set my stop-loss at $3.91.
For a safer entry, wait for a confirmation above $4.46.
A fall below $3.91 would...
ASX:MGG had a pull back today and now resting on the first support at $1.555. I believe we should have a little bit more downside to go as the selling pressure (CMF) is still largely negative. I am targeting buys along the 0.618 Fib. at $1.505 to 1.520. Stop-loss set at $1.47 depending on your risk appetite.
ASX:PGC Paragon Healthcare seems to be gaining traction and has a slight pull back recently but I would still wait for a clearer signal to enter. A nice cup and handle has been formed and i am waiting for the RSI to cross the 50 mark with conviction before entering. That will also mean I prefer to enter after the prices cross back into the main channel at $0.855...
RSI is already touching the oversold boundaries. How much further can ASX:APT run? For early investors, you might want to book some profits soon. I wouldn't recommend going into a trade right now with ASX:APT because of the limited upside to my target at $10.30-60 before a correction is due.
ASX:MPL closed above the 55MA for 2 consecutive days. CMF has been neutral for the past week - hints of accumulation - prices were moving sideways. Volume is rising and this is positive. We have a few hurdles to clear from between $3 up to $3.17.
As TK has crossed below the cloud, this signifies a weak bullish sentiment, but it is a first step we need to take in...