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Asx200long

ASX to continue in the upward move?ASX200 - 24h expiry Price action has continued to trend strongly lower and has stalled at the previous support near 8350. The correction lower is assessed as being complete. RSI (relative strength indicator) is flat and reading close to 50 (mid-point) highlighting the fact that we are non- trending. A move through 8400 will confirm the bullish momentum. The measured move target is 8475. We look to Buy at 8350 (stop at 8310) Our profit targets will be 8450 and 8475 Resistance: 8425 / 8450 / 8475 Support: 8375 / 8350 / 8325 Risk Disclaimer The trade ideas beyond this page are for informational purposes only and do not constitute investment advice or a solicitation to trade. This information is provided by Signal Centre, a third-party unaffiliated with OANDA, and is intended for general circulation only. OANDA does not guarantee the accuracy of this information and assumes no responsibilities for the information provided by the third party. The information does not take into account the specific investment objectives, financial situation, or particular needs of any particular person. You should take into account your specific investment objectives, financial situation, and particular needs before making a commitment to trade, including seeking advice from an independent financial adviser regarding the suitability of the investment, under a separate engagement, as you deem fit. You accept that you assume all risks in independently viewing the contents and selecting a chosen strategy. Where the research is distributed in Singapore to a person who is not an Accredited Investor, Expert Investor or an Institutional Investor, Oanda Asia Pacific Pte Ltd (“OAP“) accepts legal responsibility for the contents of the report to such persons only to the extent required by law. Singapore customers should contact OAP at 6579 8289 for matters arising from, or in connection with, the information/research distributed.
OANDA:AU200AUDLong
by OANDA
Potential outside week and bullish potential for RMSEntry conditions: (i) higher share price for ASX:RMS above the level of the potential outside week noted on 30th August (adjusted with the incidence of the inside week the following week, allowing activation of the trade above the level of the range for that week, i.e.: above the level of $2.20, as depicted by the blue dotted line and accompanying text on the chart). Stop loss for the trade would be: (i) below the swing low of 27th August (i.e.: below $2.02), should the trade activate.
ASX:RMSLong
by Ivory_Wolf
AU200AUD to continue in the upward move?ASX200 - 24h expiry There is no clear indication that the upward move is coming to an end. Although we remain bullish overall, a correction is possible with plenty of room to move lower without impacting the trend higher. Risk/Reward would be poor to call a buy from current levels. A move through 7800 will confirm the bullish momentum. The measured move target is 7850. We look to Buy at 7750 (stop at 7710) Our profit targets will be 7825 and 7850 Resistance: 7800 / 7825 / 7850 Support: 7750 / 7725 / 7700 Risk Disclaimer The trade ideas beyond this page are for informational purposes only and do not constitute investment advice or a solicitation to trade. This information is provided by Signal Centre, a third-party unaffiliated with OANDA, and is intended for general circulation only. OANDA does not guarantee the accuracy of this information and assumes no responsibilities for the information provided by the third party. The information does not take into account the specific investment objectives, financial situation, or particular needs of any particular person. You should take into account your specific investment objectives, financial situation, and particular needs before making a commitment to trade, including seeking advice from an independent financial adviser regarding the suitability of the investment, under a separate engagement, as you deem fit. You accept that you assume all risks in independently viewing the contents and selecting a chosen strategy. Where the research is distributed in Singapore to a person who is not an Accredited Investor, Expert Investor or an Institutional Investor, Oanda Asia Pacific Pte Ltd (“OAP“) accepts legal responsibility for the contents of the report to such persons only to the extent required by law. Singapore customers should contact OAP at 6579 8289 for matters arising from, or in connection with, the information/research distributed.
OANDA:AU200AUDLong
by OANDA
SPI 200 hints at bullish breakoutPrices have been coiling on the daily chart to form a potential bullish pennant / symmetrical triangle, which hints at further gains. RSI (14) remains over 50 on the daily chart, and volumes were lower during the consolidation to show lack of conviction from bears, sellers stepping in at the cycle highs. The 1-hour chart shows prices retracing lower after RSI (2) reached overbought, alongside a bearish pinbar at the cycle high. We're now looking for price to either hold above the triangle breakout level, or for RSI (2) to reach oversold whilst prices hold above the high-volume node. From here, the bias is for a rise to 7850m or the weekly pivot point just above the high-volume node at 7866.
ASX24:AP1!Long
by CityIndex
ASX to continue in the upward move?AU200AUD - 24h expiry There is no clear indication that the upward move is coming to an end. Although we remain bullish overall, a correction is possible with plenty of room to move lower without impacting the trend higher. A lower correction is expected. Risk/Reward would be poor to call a buy from current levels. A move through 7800 will confirm the bullish momentum. We look to Buy at 7750 (stop at 7718) Our profit targets will be 7830 and 7850 Resistance: 7800 / 7825 / 7850 Support: 7775 / 7750 / 7725 Risk Disclaimer The trade ideas beyond this page are for informational purposes only and do not constitute investment advice or a solicitation to trade. This information is provided by Signal Centre, a third-party unaffiliated with OANDA, and is intended for general circulation only. OANDA does not guarantee the accuracy of this information and assumes no responsibilities for the information provided by the third party. The information does not take into account the specific investment objectives, financial situation, or particular needs of any particular person. You should take into account your specific investment objectives, financial situation, and particular needs before making a commitment to trade, including seeking advice from an independent financial adviser regarding the suitability of the investment, under a separate engagement, as you deem fit. You accept that you assume all risks in independently viewing the contents and selecting a chosen strategy. Where the research is distributed in Singapore to a person who is not an Accredited Investor, Expert Investor or an Institutional Investor, Oanda Asia Pacific Pte Ltd (“OAP“) accepts legal responsibility for the contents of the report to such persons only to the extent required by law. Singapore customers should contact OAP at 6579 8289 for matters arising from, or in connection with, the information/research distributed.
OANDA:AU200AUDLong
by OANDA
Bullish potential and potential breakout detected for SPKLooking at afternoon trade, SPK represents a potential bullish opportunity should momentum continue and higher highs and higher lows be made past the current position, considering breach of recent resistance levels aligning with technical indicators of RSI and DMI. Relative strength in the Midcap 50's as well as the communications sector (XTJ) adds further impetus to the trade. Personal stop loss for the trade would be beneath the low of the recent swing on 30-Oct (i.e.: below the low of $4.50), which is also below both of the 10 and 30 day moving averages, and will track the increasing 30 day moving average as the trade continues.
ASX:SPKLong
by Ivory_Wolf
The swing low could be in for the ASX 200 (XJO)The ASX 200 suffered its worst day in 10-week on the final day of May, thanks to weak China PMIs and month-end flows. The first day of June posted a very minor (almost sheepish) gain, but with a positive lead from Wall Street and SPI futures higher by ~0.66% overnight, the ASX is expected to extend its rise from the lows. The fact that the lows formed around a 61.8% Fibonacci ratio 7070 support level alongside a bullish RSI divergence could bode well for bulls over the near-term. From here the bias is bullish above last week's low and for a move to the 7200 area, within the channel. But as the channel appears to be corrective in nature then we also see the potential for it to head for (and break above) the 7300 highs. But as we're a period of the year notorious for fickle price action and lower trading volumes, traders might be wise to remain nimble and seek smaller moves unless a large macro theme arrives worthy of expecting broad-range expansion for global markets.
ASX:XJOLong
by CityIndex
It could be now or never for ASX 200 bullsI suspect it could be a case of now or never for ASX bulls. Whilst it suffered its worst day in 9-weeks on Thursday, this could be part of an ABC correction and the 200-day MA is nearby as a probably support level, even if it breaks lower today. Futures markets shows heavy volume occurred around yesterday's lows (bears piled in around the lows) yet sentiment could rise if a debt ceiling deal is reached as reported, forcing a short-covering rally. Yesterday’s low sits around a 50% retracement and 61.8% projection level, and there is a volume cluster around 7122 during the strong rally which could provide support. Furthermore, RSI (2) is oversold. The bias is bullish above 7090 (below the 200-day MA) and for its next leg higher to begin.
ASX:XJOLong
by CityIndex
1
ASX 200 bulls eye another crack at 7300 (Australia 200 CFD)The possible 'sympathy bounce' towards 7300 highlighted last week played out nicely. Whilst we're on guard for bearish momentum to return as part of the seasonal 'sell in May and go away', we retain a bullish bias over the near-term. Prices have since pulled back from those highs and price action on the intraday chart appears to be corrective, in the form of a falling wedge (a bullish continuation pattern). It's forming a base around the 38.2% Fibonacci level and above the 50% retracement line, whilst RSI (14) is forming a bullish divergence. - From here, bulls could consider bullish setups above 7226 in anticipation of a move higher - The bias remains bullish above 7220 - The wedge pattern suggests an upside target near the base of 7300
CITYINDEX:AUSTRALIA200CFDLong
by CityIndex
3
Sympathy bounce for the ASX 200?Whilst prices are expected to open lower, we’re on guard for a small countertrend bounce. A bullish hammer formed on the daily chart at the lower Bollinger band which found support at the 50% retracement level and 200-day EMA. A bullish divergence has formed on the RSI (2) within the overbought zone. A break above yesterday’s high could potentially see it retest the 7275 low, or the monthly pivot point around 7300. If we managed to bounce that far, we'd then look for signs of weakness for a potential swing trade short, given weak sentiment for global stocks and the tendency for stocks to underperform around this year due to "sell in May and go away" seasonality. A break of yesterday’s low assumes bearish continuation.
ASX:XJOLong
by CityIndex
ASX to find support at recent swing low?ASX200 - 24h expiry - We look to Buy at 7316 (stop at 7266) Although the bulls are in control, the stalling positive momentum indicates a turnaround is possible. A lower correction is expected. Short term bias has turned positive. We look to buy dips. Further upside is expected although we prefer to buy into dips close to the 7310 level. Our profit targets will be 7436 and 7466 Resistance: 7435 / 7600 / 7815 Support: 7305 / 7215 / 7120 Risk Disclaimer The trade ideas beyond this page are for informational purposes only and do not constitute investment advice or a solicitation to trade. This information is provided by Signal Centre, a third-party unaffiliated with OANDA, and is intended for general circulation only. OANDA does not guarantee the accuracy of this information and assumes no responsibilities for the information provided by the third party. The information does not take into account the specific investment objectives, financial situation, or particular needs of any particular person. You should take into account your specific investment objectives, financial situation, and particular needs before making a commitment to trade, including seeking advice from an independent financial adviser regarding the suitability of the investment, under a separate engagement, as you deem fit. You accept that you assume all risks in independently viewing the contents and selecting a chosen strategy. Where the research is distributed in Singapore to a person who is not an Accredited Investor, Expert Investor or an Institutional Investor, Oanda Asia Pacific Pte Ltd (“OAP“) accepts legal responsibility for the contents of the report to such persons only to the extent required by law. Singapore customers should contact OAP at 6579 8289 for matters arising from, or in connection with, the information/research distributed.
OANDA:AU200AUDLong
by OANDA
ASX to find support at previous swing high?ASX200 - 24h expiry - We look to Buy at 7270 (stop at 7220) Previous resistance level of 7272 broken. Our short term bias remains positive. We are trading at overbought extremes. A lower correction is expected. We therefore, prefer to fade into the dip with a tight stop in anticipation of a move back higher. Our profit targets will be 7390 and 7420 Resistance: 7435 / 7600 / 7815 Support: 7305 / 7215 / 7120 Risk Disclaimer The trade ideas beyond this page are for informational purposes only and do not constitute investment advice or a solicitation to trade. This information is provided by Signal Centre, a third-party unaffiliated with OANDA, and is intended for general circulation only. OANDA does not guarantee the accuracy of this information and assumes no responsibilities for the information provided by the third party. The information does not take into account the specific investment objectives, financial situation, or particular needs of any particular person. You should take into account your specific investment objectives, financial situation, and particular needs before making a commitment to trade, including seeking advice from an independent financial adviser regarding the suitability of the investment, under a separate engagement, as you deem fit. You accept that you assume all risks in independently viewing the contents and selecting a chosen strategy. Where the research is distributed in Singapore to a person who is not an Accredited Investor, Expert Investor or an Institutional Investor, Oanda Asia Pacific Pte Ltd (“OAP“) accepts legal responsibility for the contents of the report to such persons only to the extent required by law. Singapore customers should contact OAP at 6579 8289 for matters arising from, or in connection with, the information/research distributed.
OANDA:AU200AUDLong
by OANDA
ASX crucial support continues to hold back bears.ASX200 - 24h expiry - We look to Buy at 6910 (stop at 6860) We are trading at overbought extremes. A lower correction is expected. Short term bias is mildly bullish. The trend of higher lows is located at 6881. Preferred trade is to buy on dips. Although the anticipated move higher is corrective, it does offer ample risk/reward today. Our profit targets will be 7050 and 7145 Resistance: 7145 / 7320 / 7600 Support: 6860 / 6660 / 6405 Risk Disclaimer The trade ideas beyond this page are for informational purposes only and do not constitute investment advice or a solicitation to trade. This information is provided by Signal Centre, a third-party unaffiliated with OANDA, and is intended for general circulation only. OANDA does not guarantee the accuracy of this information and assumes no responsibilities for the information provided by the third party. The information does not take into account the specific investment objectives, financial situation, or particular needs of any particular person. You should take into account your specific investment objectives, financial situation, and particular needs before making a commitment to trade, including seeking advice from an independent financial adviser regarding the suitability of the investment, under a separate engagement, as you deem fit. You accept that you assume all risks in independently viewing the contents and selecting a chosen strategy. Where the research is distributed in Singapore to a person who is not an Accredited Investor, Expert Investor or an Institutional Investor, Oanda Asia Pacific Pte Ltd (“OAP“) accepts legal responsibility for the contents of the report to such persons only to the extent required by law. Singapore customers should contact OAP at 6579 8289 for matters arising from, or in connection with, the information/research distributed.
OANDA:AU200AUDLong
by OANDA
1
ASX 200 close to a swing low?The ASX 200 had a great start to the year, but has since seen prices pull back from tis YTD highs. Yet is we zoom out, the daily trend remains bullish overall, and prices during the recent decline appear to be corrective. It's pullback has also found support around a cluster of support levels including the 38.2% Fibonacci retracement, 50-dy EMA, monthly pivot point and 7300 round number. And as RSI recently reached oversold and has since formed a bullish divergence with price, we see the potential for a rally towards 7500. As US traders are set to return to their desks after the 3-day weekend, there is a reasonable chance of an 'up day' which could spill over to a positive start for the ASX tomorrow. Therefore, we're happy to enter the ASX long ahead of the close with a stop beneath this week's low, and initially target 7500.
ASX:XJOLong
by CityIndex
BetaAUS200 showing a strong buy signal to 143.00 but first...BETAAUS200 Formed a W Formation. We still need a strong break above the neckline before we see any potential upside. 7>21>200 RSI >50 Target 143.00 Bullish ABOUT: BetaAUS200 is a financial term that refers to the beta (a measure of volatility or risk) of the Australian Securities Exchange (ASX) 200 index. The ASX 200 index is a benchmark index that tracks the performance of the top 200 companies listed on the Australian Stock Exchange, based on market capitalization. The beta of the ASX 200 index represents the sensitivity of the index's returns to changes in the overall market. A beta of 1.0 means that the index's returns are perfectly correlated with the overall market. A beta of > 1.0 shows that the index is more volatile than the market as a whole, and a beta less than 1.0 indicates that Investors and analysts use beta as a tool to assess the risk of an investment and its potential returns. A higher beta indicates greater potential for returns, but also greater risk of losses, while a lower beta implies. In the case of BetaAUS200 asset it will seek to replicate the performance of the ASX 200 index. I believe this has the aim of providing investors with exposure to the Australian stock market. When you analyse a beta of such a product, investors can assess its risk relative to the broader market and make more informed investment decisions.
ASX:A200Long
by Timonrosso