After more than a decade of poor performance relative to other markets, the Australian stock market has clearly broken out. At least it has broken out in AUD terms, not USD terms (not yet). It's looking pretty strong and in my opinion it could continue much higher. Definitely one market that makes me have a more bullish outlook on stocks in general. At some point...
ANZ is moving in a 5 wave pattern and have already completed Wave 3. Now it is heading for correction wave 4. Once it reaches point A on the chart, we will see an bit of uptrend where it will meet point B. Post point B, it will continue its journey south If you like my analysis then do drop a LIKE and a COMMENT. Also do SHARE it with your friends. Also don't...
On a 2 hour chart, AMPOL is moving in 5 wave pattern, with Wave 3 completed as displayed on the chart. From here it should drop to 26.06 where it will meet daily support, before bouncing up to 31-32 zone. Expect a major drop once it reaches point 5. I will create new analysis once it is close to wave 5. If you like my analysis then do drop a LIKE and a...
Its been quite a challenging time for Sydney for quite some time and good days isn't near anytime soon. Going by the chart, looks like SYD will dip more to around 5.35 level before bouncing up again. Also all EMA's are above the price line which is a bearish sign. Would be interested to see how long will SYD take to Take off. If you like my analysis then do...
CWY has been going in a very good uptrend and appaently it seems that it has gone up quite far and facing some resistance. Hoping to see it retrace lower, ideally to the bullish trendline or towards the 200 SMA for a potential buy setup. I will see how it develops further if and when it comes lower for a pull back. My Buyzone is between $2.35 - $2.50, which is the...
XRO has showed a spectacular run in 2020 but since Jan 2021, it seems that XRO needs a breather and the double top kind of price action shows that it might have turned or about to turn for a decent pull back. I will be a confident buyer at or near my buy zone between $78.00 and $80.00, which is also its trendline support. I will be closely watching price action if...
Price has broken down from this curved structure Although it is still within a larger channel I feel this channel wont hold and a further breakdown will ensue We will see
Bullish trend confirmation indications: 1. Downtrend line broken. 2. Impulsive price action at the break of the trendline with High Volume 3. After the impulsive break, price is pulling back. 4. I would be a confident buyer within the Buy Zone which is the Fib Retracement Level Zone of 50-61.8 % and support of the trendline. The ideal Buying zone is between $2.20...
RZI has moved higher very nicely but I think it is time for it to pull back. The RSI has been coming down from the Overbought Zone with some Bearish Price Action. It seems RZI is being rejected now and may be ready to retrace to provide a good Buying Opportunity. There is Trendline Support and High Profile Volume Zone within the same Zone of $0.950 - $1.00 which...
OZL has shown an impressive rally since the end of March 2020, and I believe the trend has changed and OZL will advance further up and we may see much higher prices in the days to come. Nothing goes up in a straight line, so since price have been moving up we have not seen a decent retracement, so I believe any retracement lower could be a good Buying...
After almost a 60% plunge in March 2020, due to the pandemic, ALL was well supported but still we could not get back to the pre-Covid levels up till now, and observing such Price Acton (Bearish Rejection Candles) on the Monthly Chart, I think that it is being rejected. I believe that its best not to FOMO and be mindful of the fact that it may be giving hints of...
XRO has been in its parabolic rise but will it continue further up. XRO has catapulted straight up in a straight line since a few years and any asset exhibiting such a parabolic move may often be followed by a sharp decline in price value. XRO has so far got rejected in the month of January 2021, at around $155.00 and currently trading at $136.00. Could it be the...
We have witnessed a superb rally over the years since the start of 2009, but at current levels it seems that ASX may have already started to rollover for a deeper pullback. 1. It seems that it has already made a High in October 2020 and since it was very overbought, the price action since the last 4-5 months have been bearish and it has become toppy. 2. We can...
Bullish Trend Indications: The chart of MPL has developed well, indicating that the Bear trend has finished and after price hitting Resistance, it is trying to pull back. The downtrend line has been broken decisively with good Volume and has hit Resistance. It has also developed a Golden Cross. We can clearly see that while price had been moving higher, OBV has...
Bearish Trend Confirmation Indications: 1. The trend has got weak on the weekly and Monthly with Bearish Engulfing Candles and High Volume 2. The price has formed a lower Highs and a lower Lows on the Daily which is confirmation of a bearish trend 3. The down move was a powerful and impulsive wave I expect price to retrace on the upside, and I expect price to...
Bullish Confirmation Indications Recent price action has confirmed a reversal by pumping upwards and forming a higher high. 1. Price has formed a higher high 2. It has formed a Golden Cross 3. Recent session's price action, ( Bearish Candle) indicates that the stock price is facing a hard time continuing up 4. The price is at 50% Fib Retracement level of $6.60...
Bullish Confirmation Indications Recent price action has confirmed a reversal by pumping upwards and forming a higher high. 1. Price has formed a higher high 2. It has formed a Golden Cross 3. Recent consolidation at Resistance indicates that the stock price is facing a hard time continuing up 4. The price is at 78.6% Fib Retracement level of $2.45 and @2.60...
Bullish Confirmation Indications Recent price action has confirmed a reversal by forming a higher highs. 1. Price has formed higher highs 2. It has formed a Golden Cross 3. After forming a Higher High, price failed to continue upwards and is now pulling back 4. This pull back has come down and has entered in the Buy Zone and Fib retracement zone of( 50% -...