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Asx200

Breakout Coming Soon $XJO ASX200 We are trading inside a rising wedge. A big breakout move is coming in the next few days/weeks. Currently, as long as the SPX is still making new all time highs, I think we will have a small pullback towards the trendline/bottom of the wedge before breaking out to the upside. However, it is possible that the SPX (US market) to go down after the APPLE stock split and Dow Jones Industrial rebalance. If the US markets goes down, XJO would most likely follow. Dow Jones Addition/Removal #Salesforce will replace #ExxonMobil, and #Amgen will replace #Pfizer, and #Honeywell International will replace #Raytheon Technologies in the Dow Jones Industrial Average effective prior to the opening of trading on Aug. 31.
ASX:XJO
by johninvest17
Is the Stock Market going to CRASH?!?!Is the stock market going to crash?!?! I reckon about 50 people a week ask me this question! The reality is that we have never experienced this kind of crash before, we have never fought COVID before and we are seeing a huge amount of stimulus from our governments. Even the most experienced traders and investors are struggling to predict the market. Here is what I know: • It's a crazy time, with things changing daily • The market has recovered well since the crash, but it's not yet "technically safe" • We are going through a digital evolution, meaning that things are different. Business is different. Life is different. • Companies are announcing loss in sales and increase in profits at the same time. Profit is what matters. • We are never going to see "work" in the same way again. • There is a huge amount of misinformation in the media • There is an even bigger amount of misinformation coming from the public (the new media - how ironic) • The stock market responds to supply and demand. You might think a stock is overpriced (and it may be), but if another person is willing to pay that price, is it 'overpriced', or just... 'priced'? • A company is not it's stock price. Read this 3 times. • An index is not a company. Read this 3 times. The world is changing and evolving. Here is my suggestion to investors and traders: Don't try to predict. Instead get really good at adapting and even better at reacting. Use technology to your benefit. Computers are better than us at processing things, we are better at strategy. Manage your risk every second of every day. Never stop doing what you love in he trading and investing world, instead, proceed with caution and have an exit strategy. Technicals: The below chart is how I personally see the ASX right now. We are looking very bullish technically, with a huge ascending triangle on top of a trip wire on the daily. We also have an ascending triangle on the 4hr. We are pressing against resistance right now. A push through could see us making new recent highs and moving up a couple of hundred points. If we do, be careful as we are going to hit a major supply zone, which could trigger a reversal. A push through this second level of resistance could see the market heading in a longer term positive direction. Marked on chart. Another thing to note, we are right on the 61.8 Fibs, a prime position for a reversal to occur. Does this mean the market is going up? No it doesn't, but it looks like it wants to. The market is a flaky, fickle, 2-faced, sadistic creature. Remember what you are dealing with. Be careful, its not your friend and it doesn't care about you. Does this make you feel bad? Why? Now you know what you are dealing with, you can milk it for everything it's worth. Your role as a trader is to take money from the market and put it in your pocket. Don't kid yourself, this was never a friendship. How I read it: It could easily go either way right now. Risk management is key. Invest in sectors that stand to benefit whether the crash happens or not. Read the following aloud to yourself: • Risk management is my number 1 priority • I'm going to do my own research and make my own choices • My friends and family aren't qualified to give me financial advice If you prioritise risk, you minimise loss. Its really that simple. Here's the thing, we just don't know what will happen. No one does. All the time you spend searching for someone to give you that answer could have been spent finding your next major trade. Spend it wisely. A couple of things to be aware of: - Australia follows the US. Elections are coming soon in November. - Jobkeeper is allowing companies to keep operating, it's potentially ending next March. - All business is changing. What you know today may not apply tomorrow. With that being said, I wish everyone an amazing week trading and investing! • Learn • Manage Risk • Adapt • Remove the ego • DYOR • Invest in what you know • Go your own way Have a great week 🚀
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ASX:XJOEducation
by glennleese
43
ASX200 up at highs as bulls keep the momentum goingIt seems that the ASX bulls are feeling left out as the US pushes to all time highs. Price is hovering just below the 6200 zone and continues to hold higher lows suggesting that a move up through the level is on the cards in the near term. If we see sellers start to get active up at current levels then watching for a lower high and move back down to clean out some weak buyers. ------------------------------------------------------------- WE TRADE WHAT WE TEACH Check out our recent Live Streams from our profile page!! ------------------------------------------------------------- ** If you enjoy our free content, please support and follow our profile, by hitting the Follow button to get further high quality ideas. ** ** If you are following our ideas any comments and likes are most welcome and will be greatly appreciated ** ** With quality alerts and correct Risk Management, you can learn consistency and grow your account ** ** With quality portfolio management and defined risk levels to help your account grow and achieve steady profit targets while increasing your trading edge. **
ASX:XJO
by TradeTheStructure
$EHL $EHL.ASX its shaping and may go higher from here$EHL $EHL.ASX its shaping and may go higher from here Added to Watch list Emeco grows on diversification Emeco Holdings (ASX: EHL) increased its 2020 financial year revenue 16 per cent to $540m, and boosted its net profit 39 per cent to $87.5m, it said in its results presentation. “Iron ore revenue more than tripled and gold revenue more than doubled,” said the company, which is seeking to diversify its business that was mostly focused on coal. Coal mining companies provided 49 per cent of Emeco’s group revenue in the June quarter, down from 65 per cent in the 2019 financial year, it said. Growth for Emeco is coming through new iron ore and gold projects in WA to replace legacy mines, while in eastern Australia customers are looking for cost effective services amid lower coal prices. The company recently expanded its range of services with the acquisition of WA-based underground mining equipment provider Pit N Portal and is using data analytics to increase equipment efficiency.
ASX:EHLLong
by Abbas39
$MAH $MAH.ASX that Volume trying to say something$MAH $MAH.ASX that Volume Macmahon Holdings Limited (MAH) is an Australian company providing mining services to clients throughout Australia, New Zealand, South East Asia and Africa. Mining services range from mine development to materials delivery, design, construction and on-site services for mining companies, across a variety of base and precious metals and commodities. MAH provides surface mining, underground mining, engineering, and plant and maintenance.
ASX:MAHLong
by Abbas39