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ASX200 4H, could we see a new test of 6715?Happy Monday. Thanks for tuning in. Today we’re looking at the ASX200 as a few things point to buyer control. Since last Friday, we continue to watch the new fast uptrend remain in play. Buyers are also starting to break out of a wedge pattern, but we want to see if price can get back up to and break 6715. A move up to and break of that level could start to tell us that a new short-term up trend is underway. Thanks to all our subscribers and to the trading community for watching today’s update. We wish you good trading for the rest of the day.
EIGHTCAP:ASX200Long
by Eightcap
TWE.ASX - FUNCHARTS - Does Corn Really Lead Treasury Wines?Note: Funcharts are interesting charts I have found that offer a potentially unique perspective on a stock. Sometimes I’ll throw something out there that you might find controversial or wrong headed. If that’s the case your 2 cents worth is most welcome. The blue line in the graph above is corn (futures) projected forward, now why on earth would corn lead the Treasury Wines share price? While I let you ponder the answer to that the correlation between a projected forward corn price and TWE has been relatively high through history at approximately 30%, simply scroll back through the chart and you can see for yourself that corn has a pretty good track record of leading TWE. Now that we have a projection of sorts the next step would be to conjure up a trade based on this intermarket relationship (if it truly does indeed exist). Let me draw your attention to the system on screen, it is a reverse of the Supertrend STRATEGY (Inputs: ATR Length, 3, Factor 1.5) where it buys the short term dips and sells the short term rallies. An analysis of performance shows that TWE is a very choppy stock. To see performance scroll down to the bottom of the chart and make sure Supertrend STRATEGY is showing. Now the next trick is to view the Performance Summary (not overview) where is breaks down the performance of long trades v short trades. An analysis of long trades shows buying dips was highly profitable with a profit factor above 2 and a high percentage of winning trades. With this evidence the way I would trade TWE is to use Corn, or seasonal analysis or similar to obtain a bullish bias and then look to buy into a pull back on TWE. Once set I would then look to sell the position once the stock reached an overbought level. Stop Losses are a little difficult to set on a mean reversion strategy as theoretically the bigger the pull back the better the opportunity but I would suggest a fairly wide stop level of around 10-15% of the stock price as an emergency stop in case the trades really goes wrong. The question you're obviously asking is should I get long now? In my opinion awaiting a pull back is probably the best strategy, you could use a stochastic or RSI indicator (or any oscillator) for that matter and look to enter during oversold zones and close out during an overbought period.
ASX:TWE
by andrew.gibbs777
Will this Hydrogen stock suffer the same fate as the Hindenburg?Increasing volume from October to November saw the price inflate to almost 400% of the $0.15 August support test. Unlike the Hindenburg, it did'nt explode at the top and plummet back down to the ground, but once the price popped, it has been steadily deflating and drifting back down toward $0.20. We have seen a rally this past week but unless we see volume, I think we will return to ground for another test of support around $0.15. If this stock really is refuelling for another pump, take some profit around $0.50 but I feel this is the least likely of the two scenarios as after answering questions from the ASX relating to a recent YouTube presentation, there isn't any exiciting news.
ASX:PH2Short
by paulflint
1
ASX 200 drills lower thanks to commodity stocksAustralia’s main share index, the ASX 200, closed lower on Wednesday by 0.5%. This fall could have been a lot worse If not for technology and financial stocks mitigating the rout in other major Australian sectors. Australian Securities Exchange’s Metals & Mining Index fell by a massive 5.6%. Heavyweights in the mining sectors, Rio Tinto (ASX: RIO), Newcrest Mining (ASX: NCM), and Fortescue Metals Group (ASX: FMG) lead the way, falling by 7.4%, 6.6%, and 4.9%, respectively. The ASX Energy Index also declined by 5.8% as crude oil prices plummeted 9% overnight Tuesday. Two of the most significant index drivers, Woodside Energy (ASX: WDS) and Whitehaven Coal (ASX: WHC), slumped by 6.9% and 3.7%, respectively. Virus and lockdown concerns appear to be the main factors suppressing commodity and energy stocks in Australia. Domestic tech stocks did briefly push the ASX 200 into green territory intraday but were ultimately overcome by the strong headwinds of commodity stocks. The big tech winner of the day was Zip Co (ASX: ZIP), rising by a phenomenal 12.8%. Financials were also up by 0.9% as three of the "Big-four" seek to benefit from the Reserve Bank of Australia lifting its benchmark interest rate by another 50-basis points. On the technical side, we can see on the daily chart that the ASX200 has been on a clear downtrend since April. The index is currently moving in a tight range between 6700 and 6560. A break above the resistance at 6700 could potentially retest the 6810-level area, creating a lower high of the downtrend before continuing to the downside. In consideration of the long-term scenario, a close below 6560, depending on market sentiments, could eventually drive the index down to the 6000 psychological support level. The ASX 200 might struggle to maintain short-term upside movements. At least until China moves past its Covid concerns and lockdowns in the country no longer threatens to sideline its commercial operations and consumer demand.
EIGHTCAP:ASX200
by BlackBull_Markets
VR1NEWS CAT 30 Jun - Good sales update min TCV of $19mil cash in bank. Lower volume play so caution is key here. Not my fav setup as the candles are not full and kinda gappy which kinda indicates its thinly traded. Option A or Option B.. The trigger is a breakl of falling resistance line and confluence is the stock getting back above vwap, 10 day ema on 5min chart also a reclaim of the "RL" range low marked on the chart. It could also fall to crap but im not interest until we break falling res. trade safe..
ASX:VR1
by gillman_hugh
LLLCurrently in price discovery and the Volume on this is decent. Nice full bodied candles on lower timeframes means is being actively traded. I looking for a retest of the original breakout marked in blue range "LTRH and "LTRL" lower timeframe range high and lower time frame range low. A break above the falling resistance line will be key trigger, i may bid the LTRL range low with tight stops if we get a flush down. Another trigger will be a break of falling res line and reclaim of the upper range LTRH. Let see what next weeks brings. lithium stocks are rebounding which bodes well for the thesis.
ASX:LLL
by gillman_hugh
ASX Extremely Oversold Friday Afternoon Short SqueezeLooking for sellers to take profit and bargain hunters to squeeze this heavily sold Australia stock index into the close Friday or for Pop higher Morning if US stocks can Bounce. In large sell offs Friday are profit taking days for sellers and this naturally causing some buying as they close short positions and in the fallout there are some stocks that are bought on dips that help the whole index rally. Some good news would help but technically its sets up some excellent 3-1 and 5-1 risk rewards. easyMarkets Account on TradingView allows you to combine easyMarkets industry leading conditions, regulated trading and tight fixed spreads with TradingView's powerful social network for traders, advanced charting and analytics. Access no slippage on limit orders, tight fixed spreads, negative balance protection, no hidden fees or commission, and seamless integration. “Any opinions, news, research, analyses, prices, other information, or links to third-party sites contained on this website are provided on an "as-is" basis, are intended only to be informative, is not an advice nor a recommendation, nor research, or a record of our trading prices, or an offer of, or solicitation for a transaction in any financial instrument and thus should not be treated as such. The information provided does not involve any specific investment objectives, financial situation and needs of any specific person who may receive it. Please be aware, that past performance is not a reliable indicator of future performance and/or results. Past Performance or Forward-looking scenarios based upon the reasonable beliefs of the third-party provider are not a guarantee of future performance. Actual results may differ materially from those anticipated in forward-looking or past performance statements. easyMarkets makes no representation or warranty and assumes no liability as to the accuracy or completeness of the information provided, nor any loss arising from any investment based o n a recommendation, forecast or any information supplied by any third-party."
EASYMARKETS:ASXAUDLong
by easyMarkets
Long Santos #STO #ASX # ASX200 # Trading #breakoutHi all, An ascending triangle is classified as a continuation chart pattern. Continuation patterns are expected to lead to the continuation of an existing trend. While the ascending triangle is considered a bullish continuation pattern, exceptions are quite possible. It’s not infrequent to see it develop in downtrend conditions. Breakouts can also happen in both directions. Statistically, upward breakouts are more likely to occur, but downward ones seem to be more reliable. Price is in an interesting area here. Strong resistance around 8.4 Depending on your strategy offers a great RR. Regards,
ASX:STOLong
by TheCoinsofCharon
1