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ASM @ 13 SEP 2021ASM - Previous written analysis was done on 7 Sep -> suggested waiting for next rebound wave before plotting entry - Today’s retracement has broken through the short-term support and has also created a new Lower Low (LL) -> not good - If there is an immediate rebound to create a new Higher High (HH), the stock is still in good condition - Any further drop to around 10.00 levels would be a structure break - R is more than 10% - Strategy-to-buy (DYOR) – Suggest waiting for successful rebound before plotting entry
ASX:ASM
by Jerm88
SUL @ 10 Sep 2021SUL - First time doing a written analysis on SUL - Has history of multiple uptrends but also multiple downtrends - Strong resistance zone at 13.50-14.00 levels - Stock has been forming LHs and Lower Lows (LLs) since August - Any break of 11.60 support could see the stock test the 10.80 support levels - R is borderline 10% - Strategy-to-buy (DYOR) – Suggest waiting for successful breakout of counter-trendline if comfortable with the overhead resistance zone at 13.50-14.00 levels
ASX:SUL
by Jerm88
LYC @ 10 SEP 2021LYC - Previous analysis was done on 31 Aug - Suggested waiting for successful rebound to 7.50 levels - Stock recently formed a mini retracement wave and today’s price action would be considered a successful rebound - Technically, the stock hasn’t successfully rebounded after the mid-Aug retracement - To manage risk, half position entries are recommended - R is less than 10% - Strategy-to-buy (DYOR) – Suggest half position entry at current levels if confident that stock can rebound to 7.50 levels
ASX:LYC
by Jerm88
IGO @ 10 Sep 2021IGO - First time doing a written analysis on IGO - Has history of multiple uptrends but also multiple downtrends - Historically, the stock has traded in a tight range that is bounded by strong resistances and supports - Created new all-time high a month ago when it briefly tested the 10.00 psychological resistance - Stock recently formed a Lower High (LH) and Higher Low (HL) - A break of either the counter-trendline resistance or the trendline support might lead to a strong push in either direction - R is less than 10% - Strategy-to-buy (DYOR) – Suggest waiting for successful breakout of counter-trendline
ASX:IGO
by Jerm88
CSL @ 7 SEP 2021CSL - Previous analysis was done on 2 Sep -> suggested half entry around 307 levels if comfortable with overhead resistance zone - Recent price action has seen the stock nicely rebounded of the counter-trendline -> This is significant as the counter-trendline used to be a resistance (red arrows) but has now become a support (green arrow) - Be mindful of overhead resistance zone and suggest to manage risk by entering half position - Topping up remaining half position after overhead resistance is broken - If missed previously suggested entry around 307 levels, current price still presents some opportunities - R is below 10% - Strategy-to-buy (DYOR) – Suggest half entry around 310 levels if comfortable with overhead resistance zone
ASX:CSL
by Jerm88
QPM @ 1 SEP 2021QPM - First time doing a written analysis on QPM - Stock started to show uptrend in 2021 - Currently trading near a resistance that was formed in 2012 -> it would be more difficult to sustain the overall price trajectory - I usually classify stocks less than 50 cents as a penny stock as a relatively healthy pullback to the short-term support could see price swings of 10-20% -> too volatile for me - A stock that attracts short-term traders but it’s advisable to stay away if you prefer peace of mind - R is more than 10% - Strategy-to-buy (DYOR) – Suggest waiting for overhead resistance to be broken first. Only enter if comfortable with the price swings
ASX:QPM
by Jerm88
CAR @ 1 SEP 2021CAR - First time doing a written analysis on CAR - Has a history of good uptrends over the years - Recent price action since mid-Aug has seen the stock gone up quite far from the short-term support - I was hoping to see a stronger pullback to the short-term support for a better setup for entry - This week’s price action shows signs of a reversal and the stock looks to be in a rebound - A successful rebound would be near 26 levels -> due to sharp retracement at the beginning of the retracement wave - R is less than 10% - Strategy-to-buy (DYOR) – Suggest waiting for a successful rebound before entry near 26 levels
ASX:CAR
by Jerm88
MPL @ 31 Aug 2021MPL - First time doing a written analysis on MPL - Over the last 6 years, the stock has been trading within 2.40-3.60 levels - Stock is currently trading near all-time high regions -> A successful breakout has a potential to see the stock fly - Price consolidation over the last 2 weeks to test the short-term support looks like a breather before testing the last overhead resistance - R is less than 10% - Strategy-to-buy (DYOR) – Suggest waiting for a successful breakout
ASX:MPL
by Jerm88
LYC @ 31 Aug 2021LYC - First time doing a written analysis on LYC - Has some history of good uptrends that lasts for months - Also has history of downtrends that lasts for years -> represents overhead resistances for the stock - Stock price may not go up as fast as other stocks without these overhead resistances - Stock is currently trading between the short- and mid-term averages -> any break of support or resistance would require above average volume - A rebound to around 7.50 levels would be considered a successful rebound - R is more than 10% - Strategy-to-buy (DYOR) – Suggest waiting for successful rebound to 7.50 levels
ASX:LYC
by Jerm88
HLS @ 31 Aug 2021HLS - Previous analysis was done on 26 Aug -> suggested to wait for successful breakout of strong resistance - Since then, the stock has retraced all the way down to test the mid-term support - Today’s price action is first sign of a potential rebound -> but more positive indicators are required - Some traders may try to use the Support Strategy for entry, but it sometimes pays to be cautious - strong resistance zone (formed since 2013) at 5.15-5.35 levels - R is less than 10% - Strategy-to-buy (DYOR) – Suggest waiting for successful breakout of strong resistance zone
ASX:HLS
by Jerm88