I can see a clear 5 waves down here and price has bounced and taken out one of our daily pivot points with some decent volume - this could be the start of a major trend reversal.
AR9 is looking strong after coming out of the downtrend line and forming a potential double bottom. Currently it is consolidating within a Bullish Pennant which is clearly a Bullish Pattern. AR9 looks strong and I am expecting a break of this bull pennant with a target of $0.470 (potential 33% gain).
Please note these are my own notes, by no means trading advice....
Quick look at the ASX:AR9 chart.
Lookback
After a cup-and-handle and subsequent break-out in July, ASX:AR9 hit a high in mid-August. It has since entered a four-month downtrend (Trend 1) and is currently in a period of consolidation.
Strong support was immediately found at the 0.618 fib level ($0.36) and this has held despite being tested multiple...
AR9 is in the secure document sharing space with defence level accreditation and took off running mind June and after a recent pullback looks like it might keep going. Worth a look.
archTIS was established to resolve a critical global problem – The need to share information securely. archTIS is a Canberra-based firm that specialises in the design and development...
AR9 had a break of the flag and a retrace to test new support of 42c. This week should see AR9 go to 50c + and short term could easily see 60c to compete with TNT. Keep an eye on both market caps as these 2 stocks are the ones to watch in the sector. AR9 for the defence contracts, (biggest spend from the government initiative), and TNT buying out small...
AR9, one of the most talked about tech stocks is coming to the end of the pennant formation. It faced resistance at 42.5c, but if it bounces off 41.5 and breaks through resistance, we can see a 15% minimum leg up today. Stop loss at 39.5c.
The big red spike on the 10th of September i havent included due to its size and no follow through.. means the market didnt consider the 4mill defense contract worth a continuation on trend. With that being said, cyber security is a hot sector and i dont see much risk with AR9, with a stop loss on the red trend line (currently 39.5c). Alot of *fintwits* are...
Topping up here
TA,
- Trend line support
- 20EMA daily
- Ascending triangle
- RSI relatively oversold
- Short term resistance at 0.6 show by high volume. Good place to take some profits if you intend to.
Concerns,
- Recent earnings and 50% loss in operating revenue. However, the earnings reaction was neutral which shows strong hands holding this.
- If negative...
TA,
-MACD daily golden cross
-Upper-level exhaustion (known as cup and handle in TA culture)
- Bullish Moving averages
FA,
- Geopolitics
- War on data. Data is the new currency. Protecting data comes with big rewards.
- Management team
- Top government contracts: MOAT
- Good financial health
- Insider ownership: 17%
- Recurring revenue
- TAM 2.8B in AUS and 7.7B...
