wow!!
no idea about the AF
BUt that looks like it's popped to top of channel
MM from cahnnel hit
further targeet $80 v possible
but v overbought watchy
ENTRY: 30.60
SL: 31.85
TP: 28.91
- ADX>20
- RSI>30,RSI<50
- Daily RS -ve
- Daily FFI -ve
- Weekly RS +ve
- Weekly FFI -ve
- Price action looks like rejected monthly and yearly CPR.
- Breakdown from range with high volume today. Would like the volume to be higher.
ALU slumped hard but there could be another opportunity to buy it. It has closed the gap now but looks like it may consolidate a bit before going higher. It is currently forming a Bull Flag which is a very Bullish sign. My second scenario on this is that it may fall further towards the POC of Volume Profile around $27.00. My second buy zone is between $25.00 and...
My Trading Bias for ALU is bullish as it has been coming down hard and has stopped falling right at $28.00 (Support) all the way from $40.00. It is also the Fib retracement level of 78.6%. I think ALU should move higher.
TP - $33.00 (potential gain 15%)
Stoploss - $27.40
Please note these are my own notes, by no means trading advice. Please do your own research...
ALU has been coming down hard and has stopped falling right at $28.00 (Support 1) all the way from $40.00. If this support somehow breaks, then it might come down and test Trendline Support of $26.00 or even come down to Support 2 level of $24.00. In either scenario, we are very close to Support Zone and should be ready for a turn around in ALU.
My target for...
looks very promising, very strong fundamentals, team and Fortune 500 customers.
I would rather wait for entry zone between $32.00 - $33.00.
P.S: Please note these are my own notes for future reference, by no means trading advise to anyone. Please do your own research before entering into any trade.
Following the release of results, the market has responded negatively to the news. We've since lost the 200 daily SMA. The SP is sitting at a crucial support/resistance zone (on previous 8 occasion). If this level does not hold, we could see the SP fall further to the 2 levels I've indicated. The latter being a potential gap close.
ALU has been in a consolidation range for some time. Two options here in my view:
1. Buy at the trend line and move back up to top of consolidation range or
2. (Maybe the more safe option) Wait for retest of bottom consolidation range down near $30 round number
Altium - One of the top performers on the ASX in the last 1 year is looking bullish. It has rectraced & tested the $31.25-$31.50 level a few times. It has also managed to rid itself of the RSI divergence and Volume is shrinking. It seems set for a potentially bullish move to a new ATH. I am looking for a nice upward move backed by good volume.
Here's my trade set-up today $ALT Altium Ltd (ASX) long 480 units at 20.79 off this support level which has been holding up well so far. I've been playing these most recent s/r swings and making nice gains so happy to go in again. The only negative is the fact that the market in general have been very volatile (dumping) and as such, increases the risk on this...
