AWC is "On Time" for a move up for ASX:AWC by Ravi2409

trendanalysis chartpattern indicator multipletimeframe multitimeframeanalysis 618fibonacciretracement bottoming rsi_divergence breakout retracement

This one to me looks great on multiple timeframes with technical's and price indicating evidence of bottoming with another move higher.

Short term conditions -

Long term conditions -

My stop is 1 ATR below the .618 level and target is 2.20which represents a very good risk to reward ratio of 1:5 at current levels.

Comment:

I'm still in the trade, holding up decently considering the market has come off over the last few trading sessions, my stop is a daily close below 1.77

Comment:

Still looks like a bottoming pattern, divergence building on momentum indicators and if we start to move up look for the 10Day MA to cross the 20MA as a signal for the next move higher

Comment:

Finally getting some upside in price, I was almost going to give up on it and tempted to close it yesterday but it just goes to show you need to respect your levels - I'm adding more shares if it closes the day above 1.88

Comment:

Certainly hasn't been the best trade in the world but it's finally closed above that 1.88 level on the daily and showing some strength again but I'm not going to be adding, just going with and holding my original position size, due to the fact that it's simply taken too long for my liking to add more risk.

Comment:

I just took profit at 2.035 nice trade in the end but took a long time to work out, will look for more opportunities in the stock

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