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BRK looking goodbullflags on bullflags turn into bullflags The tyupical anatomy of a bullflag is a pole, then a core that looks like a steep bullflag, then an exit, which typicall forms a container bullflag around the core, often contains a mini bullflag, and repeat. So here... Big green bullflag Core is awedge (green) exit bullflag was a wedge -> bullflag (yellow) Now that will morph to a flatter bullflag (purple), and prob have a tiny buillflafg in the top-right corner. The whole purpose is to jam in up the stairs adn down the elevator as much as possible to work off RSI and shed the sellers
ASX:BRK
by UnknownUnicorn13172879
2
CNI @ 21 SEP 2021Text me if you have any questions/comments for me. ----- CNI - Previous analysis was done on 16 Sep - Suggested entry at 3.50 levels if believe the stock can create new all-time highs - The next day, the stock gapped up to create new all-time highs -> no good setup for entry - Since then, the stock has re-tested the short-term support and today created a nice pin bar - A successful rebound will be close to 3.60 levels - R is less than 10% - Strategy-to-buy (DYOR) – Suggest waiting for successful rebound before plotting entry
ASX:CNI
by Jerm88
CHC @ 21 SEP 2021Text me if you have any questions/comments for me. ----- CHC - Previous analysis was done on 14 Sep - Suggested waiting for successful breakout of either counter-trendline or 18.50 resistance levels - Stock today broke out of counter-trendline with slightly above average volume - There is still an overhead resistance at 18.50 levels - While the overall market has been weak, the stock has respected the short-term support -> good sign - If you didn’t enter at counter-trendline breakout, entry at current price levels would be a pre-breakout strategy for the 18.50 resistance levels - R is less than 10% - Strategy-to-buy (DYOR) – Suggest half entry at current levels or waiting for successful breakout of 18.50 resistance levels
ASX:CHC
by Jerm88
Where to for the XJO - is it time to go short?I note that there is a lot of noise in the financial media currently around potential collapses in the Chinese property market and various other factors, but let's screen that out and have a look at what the XJO chart is showing. From the chart, it looks reasonably apparent that a downtrend has started forming, starting from the most recent high of 13 August. The chart shows that following the open on 14 August, the market failed to make a new high and started trending downwards for the following week. Fairly solid resistance was then found at around 7460 on 19 August with several retests until around 9 September (between these dates the market seemed to be trading in a fairly tight 60 point range). On 9 September the support level was broken and for the following week or so (until 17 September), the previous support level providing resistance, with another support offered around 7360 (the close on 9 September). Today's movements seem to pretty clearly break through that resistance, but we'll need to see what tomorrow brings to see if there is confirmation of the breakdown. Other things that I note on the chart are the 20 and 50 day MAs. To me, it looks like the 20 day MA will likely cross the 50 day in the next day or so (a bearish indicator in my view). All in all, for me it's not wholesale shorting time until the 200 day MA is broken at around 7000, but there may be opportunities in the short term if you're looking for them. So in summary what visible to me on the chart * A clear downtrend indicated by both MA slopes and a pattern of Lower Highs and Lows * Two clear breakdowns from ranges, with support flipping to resistance. * MA crosses likely. Anyway if you've liked this post check out my blog - www.nickthetraderguy.com
ASX:XJOShort
by NicktheTraderGuy
2
PLS @ 20 SEP 2021Text me if you have any questions/comments for me. ----- PLS - Previous analysis was done on 14 Sep - Suggested half entry at 2.25 levels or wait for more confirmation of uptrend - The next day, stock gapped up to create new all-time high and there were no entry opportunities - Stock has retraced back to the 2.00-2.05 support zone -> shows a lot of weakness - Any break of this support zone would also constitute a structure break - R is more than 10% - Strategy-to-buy (DYOR) – Suggest waiting for a series of Higher Highs and Higher Lows
ASX:PLS
by Jerm88
LYC @ 20 SEP 2021Text me if you have any questions/comments for me. ----- LYC - Previous analysis was done on 14 Sep - Suggested waiting for a retracement and successful rebound - Since then, the stock tested $8 levels and today broke through the short- and mid-term supports with above average volume - Stock is exhibiting high price volatility and may not be suitable for all types of traders - A successful rebound looks to be close to 7.50 levels - R is more than 10% - Strategy-to-buy (DYOR) – Suggest waiting for a series of Higher Highs and Higher Lows
ASX:LYC
by Jerm88
2
GLN @ 20 SEP 2021Text me if you have any questions/comments for me. ----- GLN - Previous analysis was done on 15 Sep -> suggested waiting for the next rebound wave for a better setup for entry - Since then, the stock has retraced back to re-test the $1 psychological support - Any strong break of the 1.00 support levels will also coincide with a structure break - Stock will have to rebound to around 1.19 levels to have any chance of a mid-term uptrend - R is more than 10% - Strategy-to-buy (DYOR) – Suggest waiting for a series of Higher Highs and Higher Lows
ASX:GLN
by Jerm88
IGO @ 20 SEP 2021Text me if you have any questions/comments for me. ----- IGO - Previous analysis was done on 15 Sep -> suggested waiting for successful breakout of $10 psychological resistance - Since then, there was a false breakout and the stock quickly fell below the mid-term support with above average volume - Four of my other indicators are also borderline bearish - A Higher High and Lower Low was formed in the past week -> usually a sign of sideways consolidation - R is more than 10% - Strategy-to-buy (DYOR) – Suggest waiting for successful breakout of $10 psychological resistance
ASX:IGO
by Jerm88
BKW @ 20 SEP 2021Text me if you have any questions/comments for me. ----- BKW - First time doing a written analysis on BKW - In last night’s livestream, I mentioned that 25.00-25.50 levels used to be a resistance zone and it will be interesting to see if the stock can rebound of this zone and treat it as support - Today’s price action suggests that’s not the case. - Stock gapped down and fell to the mid-term support - Short-term average doesn’t provide a good support and/or resistance - A successful rebound will be above 25.50 levels - R is less than 10% - Strategy-to-buy (DYOR) – Suggest waiting for successful rebound before plotting entry
ASX:BKW
by Jerm88
ASX 200 @ 20 SEP 202120 SEP 2021 – Market Watch As predicted in last night’s livestream, the twin US events (ie. Last Friday’s Quadruple Witching Hour and the upcoming FOMC meeting) are dragging markets down this morning. At market close, the ASX 200 is down 2.1% to test the 7250 support levels created in July 2021. As mentioned last week, 7150-7250 levels (purple lines) will be a support zone for the index. Any break of this zone will also coincide with a structure break. We will have a better gauge on the Fed’s decision whether to taper by Thursday morning. If the Fed does decide to taper, I foresee a drop to potentially 6900 levels (orange line). If the Fed postpones the key decision to November’s meeting, we should be able to see an immediate challenge of 7400 levels again with a potential of even possibly re-testing all time high levels. This would also depend on how China deals with the Evergrande problem and whether there will be a shock to its financial systems. Some analysts have likened the Evergrande issue to the Lehman Brothers issue back in 2008 that precipitated the Global Financial Crises (GFC). I’m not super familiar with Evergrande but I don’t think there will be as big an impact to the world markets. There are three main reasons for my thinking: - (i) China has been reigning in their financial markets since the 1st half of 2021. Thus, there worldwide exposure isn’t as large as before. (ii) Even before the reigning in, China’s markets were not as big and open as the US. (iii) Since the GFC, all the big financial institutes have been forced (through regulation) to beefed up their financial reserves. Even with the Covid pandemic crash in March 2020, most financial institutes held strong and were not severely impacted like they did during the GFC. In terms of my strategies in the market, I will wait to see what happens this Wednesday (US trading hours) and that will guide what I do in the market. It’s too soon to engage bearish strategies. There might be short-term opportunities to short but from my experience, it’s better and safer to trade based on what I see, rather than what I feel. What do you think? Are you out of the markets completely? Or is this a juicy time to pick up undervalued stocks? If you find this market analysis helpful, let me know in the comments. May the markets be with us! Disclaimer:- I’m a mid-term trader and I hold my stocks between 1-3 months. I’m using Trend Following strategies and my analysis will be from a perspective as a Trend Follower. I’m sharing these analyses for learning purposes and as always, DYOR.
ASX:XJO
by Jerm88