The Cann Group is involved with medicinal cannabis from cultivation to distribution/supply of medicinal cannabis. It has the potential to breakout of the long term down trend and a move above the previous support/resistance around $2.50 (red dotted line) will provided a potentially bullish move. Wait and watch for a setup.
It has completed a retracement back up to 6274 (0.886% fib level) of the move down from 30/08/2018 to 21/12/2018. It is now forming a H & S pattern on the 4 hour chart. Watch for a break of the neckline on bearish sentiment or a bounce back up if the neckline holds. Current RSI below 50
Having formed the inverted H & S pattern NAB is consolidating the breakout and has the potential to move higher. WBC and NAB could easily share the same chart as the price action is virtually identical. An inverted H & S pattern is not very reliable and this is not investment/financial advice.
Capricorn Metals had a new BoD replace the old one, who had resisted a takeover attempt. The price is breaking out form an inverted head and shoulder formation with a long bullish candle. A close above the .075 level has bullish potential. The RSI is now in the positive zone. This is not investment advice nor a recommendation to buy/sell. Please DYOR.
CHC has rocketed up quickly and is now showing signs of fatigue with the RSI diverging. Be prepared for a potential downturn because what goes up must come down :-). Not investment or trading advice . Just my random thoughts
Since breaking out of the inverted head and shoulder pattern, APT has appreciated by approx $5.On the daily chart APT formed a shooting star candle and along with the divergent RSI points to a potential reversal in price.
The Vita Group has broken out but hit a Historical resistance zone between $1.30 and $1.35. Technically it should retest the 1.25 breakout level before it makes a move up. That will also give the RSI a chance to move back down.This is not investment guidance or advice.
Afterpay (APT) formed an inverted Head and shoulder formation. It then broke out with a gap in price and retested the support around $15.
I calculate the next resistance around $18.75, though the move could extend to $19.50. This is not investment advice.
Having done a retracement to the 61.8 fib, the price has been making higher highs and lower lows within a symmetrical triangle. With the Gold price expected to dip in the short term but being touted as "bullish" long term, there is a potential opportunity to go long on the breakout from the triangle.
The chart depicts 3 different patterns and along with the 50 and 200 MA makes support and resistance areas pretty clear. It is a wait and watch situation. I will wait for the weekly candle to close whilst my bias is a downturn to the $155 area and the 200 MA.
This script is on my watchlist for 2 reasons. 1 - It has shown a huge amount of volume in the recent past which has not been reflected in an upswing in price. The steady price level indicates that any additional interest will generate an up move. 2 - The script is forming a round bottom and the chances of a further move down are limited but cannot be discounted....
Whilst Silver has lagged in the Gold rally, it has formed a strong support level at 14.50 and is looking for a break out to the 15 - 15.50 area. On the weekly chart, it is forming a double bottom around the 13.75 area. I do not have an opinion on its next move but am watching the price action. Not trading or investment advice folks.
The DAX has broken the H & S neckline as well as the 200 MA on the weekly timeframe. It is potentially heading to the 10000 area but will the trendline hold and produce a bounce. This is not trading or investment advice but my personal opinion.
The price has been making lower lows and the trend line for the highs slopes downwards. $18.80 is the 50% fib retracement and that level is also supported by the 200 MA (weekly). A break in the gold price will expose the 61.8% fib level at $16.83 (which was also the previous low in Dec 2016 as well as June 2006 and Oct 2008 ) though my gut feeling is that the drop...
After forming a H & s in January 2018, the price dropped dramatically down to .022c retracing almost 100% of the move up. In the last month price has doubled and moved above the 50 DMA to 0.044c. It also broke out of a falling wedge with good volume. We may see a retest of the lows before it bounces upwards. Watch for the opportunity but as usual this is not a...