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Could be a slippery slide lower on the ASXThe ASX200 is under pressure as price falls into the weekend on stock market meltdown fears. US rate rises and inflation, along with other concerns, are weighing on bullish sentiment and testing the patients of buyers. Is this the calm before the inevitable storm? To me, the 7175 level is the line in the sand after the recent RTF (Double Top) at 7625, and buyers will need to hold the line if we are to see higher prices. Price has extended into the level so may see a bounce on some bargain hunting in coming sessions although this will largely depend on how the US performs tonight. US bonds are pointing to four rate rises this year which is more than expected and pressuring markets. There are some saying that the US Fed has made a mess of easing and have left it too late to contain inflation so will be chasing with faster tightening. If this is the case, I do not see traders wanting to add risk to portfolios or Funds willing to support price...so now is the time I am happy to be cautious hence the recent short on the ASX200 CFD. Check out our website and follow us on social media.
ASX:XJOShort
by TradeTheStructure
3
BRN/AUD - A prosperous 2020From a technical perspective, Brainchip Holdings (ASX:BRN) ticks all my boxes. I believe we're at an ideal buying location for both traders and investors looking to add to their position. My reasoning: Location: Bottom of range Structure: Triple bottom, "W" price structure Divergence: Huge OBV div, confirmed div in histogram, Willy div VPVR: Currently sitting at the POC. Large hole in volume above price, approx 125% potential if price clears 0.076c Weekly gap left @ 0.201c (marked by green line) Hit the LIKE button if you like my analysis and want to support my channel. Follow to make sure you don't miss any future trade ideas.
ASX:BRNLong
by AndyTheKing
3
TLS.ASX_Retracement Trade_LongENTRY: 4.06 SL: 3.89 TP: 4.29 - ADX<20. Would like to be higher. - RSI>50,RSI<70 - Daily RS +ve - Daily FFI +ve - Daily MACD -ve - Weekly RS +ve - Weekly FFI +ve - Weekly MACD -ve - Retracement to resistance turned support level since breakout of range on 18 Nov 2021. - Volume dry up on 22 Nov 2021. - Weekly chart shows possible hidden buying last week. - Need to account for possible to retrace further to 38.1% fib. level. - If break previous high 4.09, should expect further price movement up.
ASX:TLSLong
by TRADER-WANNA-BE
ABB @ 27 DEC 2021Text me if you have any questions/comments for me. ----- ABB - After hitting an overhead resistance zone (orange highlight) at 5.10-5.50 levels, stock has retraced back to support zone (blue highlight) at 4.40-4.60 levels - Short-term average has crossed below (red circle) the mid-term average –> not a good sign - Stock has been trapped in a sideways movement for almost 4 months - All the indicators that I’m using is saying that the stock is not a good pick for a mid-term hold - If stock can rebound above the moving averages, the support zone will be a strong place for possible future collection - Any break below the support zone is pretty much game over for the stock - Strategy-to-buy (DYOR) – Wait for HH and HL formations
ASX:ABB
by Jerm88
2
ASX 200 @ 1 Dec 2021Text me if you have any questions/comments for me. ----- In the last Market Watch analysis done on 2 November (red dash line), I wrote that I would avoid the big caps (eg. Blue Chips, ASX 200 constituents) while being more selective with my purchases. Since then, the ASX 200 tested and failed to break the 7450 resistance and is now falling towards the strong support zone near 7200 levels (orange line). The ASX 200 previously rebounded from this support zone and another rebound would be good. The index is also testing the long-term average. Judging by its historical performance, I can’t say that the long-term average is a very strong support. Since 1 Dec 2017 (blue dash line), the ASX 200 has only rebounded of the long-term support 2 times (blue arrows). The red arrows were when the index was rejected by the long-term average. This does show that the index does at least respond to long-term average – albeit not often as a support. The red thumbs downs were periods when the index just fell through the long-term support. My huge concern is whether the ASX 200 will fall below the 7200-support zone. If it breaks this support, the overall market will likely be in a world of pain for at least a few weeks. The US market hasn’t really shown convincing signs of a strong rebound. If a strong retracement takes place over the coming days in the US, I have a strong feeling that the ASX 200 will fall off the support that it is sitting on. Our best-case scenario is that the US creates a new all-time high in the next couple of weeks and the ASX 200 will take the hint and slowly rebound again. With the integrity of our politicians being called into question and the federal election happening in less than 6 months, the markets will continue to be in state of flux. Rising inflation and potential Omicron scares will continue to disrupt the economic recovery. In last Saturday’s FB livestream, I explained around the 17-minute mark how the US and Australia markets’ movements is signalling that there is a lack of confidence in the ASX market. Personally, I have reduced my trading portfolio from 6-8 stocks down to 3 stocks. I’m increasingly being more selective in my purchases as sometimes, doing nothing in the market is a form of capital preservation. How about you? Are you optimistic or pessimistic on the ASX market over the coming 6 months? Are you aggressively buying now or waiting for stronger rebounds or retracements?
ASX:XJO
by Jerm88