Asxlong
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)
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TIE on the ASX is set to run higherTIE looks good on the weekly charts as buyers soak up the minor pullback above the EMAs. Expecting to see the pullback hold as a higher low and drag in more buyers in coming sessions. Watch the video for a more detailed breakdown of the price action.
Remember to take a look at www.tradethestructure.com
The ASX looks goodMonthly chart for the ASX (Australian market)
Green ovals show the clear bull rejections along the major trendline which has been recently tested and is breaking out to the upside
I have labelled the chart patterns - I am unsure however if the 'Symmetrical triangles' are really that or Rising Wedges, so take that with a grain of salt
Asx200 to challenge ATH?After reaching a new ATH in mid-August, Asx200 started to correct and found support in 7100 zone.
At this moment we are in a correction following the first leg up since the recent low and the index can continue higher to challenge the ATH.
This scenario is negated if we have a drop under 7150
$AVZ- Very close to Breakout. Possibly this coming week Lithium stocks are making a rebound after the cooldown
Z1P - Could provide a buying Opportunity!Z1P is showing signs that it has found supportt at the trendline Support coupled with High Volume. This indicates buying interest at current level of $7.00. I think that if Z1P manages to close above $7.00 which is also the POC of Volume Profile, for two more days, it could move higher towards its next Resistance level of $8.45.
Please note these are my own notes, by no means trading advice. Please do your own research before entering into any trade.
RKN - Bullish Trade PlanRKN is a stock I like because of its solid price action. Any pull back lower is a buy IMHO. I am expecting a backtest lower towards its trendline, which may provide a great buying opportunity. My Buy Zone is between $0.900 - $0.940, and would target the next Resistance level of $1.520.
Please note these are my own notes, by no means trading advice. Please do your own research before entering into any trade.
CSL - Are the Bulls Entering at Support@As we can see that the Support Zone of $268.00 - $274.00 has been strong because it got bounced off in the end of July 2020, and price made a high of $320.00 then. Now that CSL was plunging, the same support has held very well and we can see the downtrend line violated, with a Bullish Candle closing above it, with High Volume.
MACD has also crossed and RSI has come out of the Oversold region, indicating that the Bullls have taken control and want to take it higher. My targets are as follows:
1. TP1 is $287.00 - $290.00 region (Resistance 1) (4% - 5% potential)
2. TP2 is $298.00 - $300.00 region (Resistance 2) (8% - 9% potential)
Please note these are my own notes, by no means trading advice. Please do your own research before entering into any trade.
BBT - Bullish Trade PlanBBT has pulled back but got support at its global POC of Volume Profile at around $2.00. Considering its previous bullish price action and uptrend, I expect a bounce off the current levels. This is a speculative buy after bullish price action confirmation with a tight stop below support at $1.80. Let see how this plays out.
Please note these are my own notes, by no means trading advice. Please do your own research before entering into any trade.
VML - Trade PlanVML is a stock in the Rare Earth space and I expect it to propel higher. This stock could go up straight from the current level of $0.067 or pull back a bit towards the trendline support around $0.055. In any case, I am bullish VML and am looking forward in taking a buy position. Lets see how it develops.
Please note these are my own notes, by no means trading advice. Please do your own research before entering into any trade.
SYR - Trade PlanSYR is a stock with a lot of upside potential. It is currently pulling back towards its bullish pennant and to the support zone between $1.060 - $1.140, where I will be looking for a potential buying opportunity once bullish price action is confirmed. Lets see how it develops.
Please note these are my own notes, by no means trading advice. Please do your own research before entering into any trade.
DRO - Buying Trade PlanDRO has been in a good uptrend and within the bullish trend its always ideal to buy pull backs. Currently DRO is pulling back and has reached good support level. I will be interested to take a long position in the current zone for a potential swing trade to the upside after bullish price action confirmation. Lets see how it develops.
Please note these are my own notes, by no means trading advice. Please do your own research before entering into any trade.
IAG - Bullish Trade PlanIAG has pulled back towards its 200 SMA and has currently found support. I expect price to consolidate a bit before moving higher and this could be a very good buying opportunity. I will enter a long position once bullish price action is confirmed in the very zone. Lets see how it develops.
Please note these are my own notes, by no means trading advice. Please do your own research before entering into any trade.
BVS - Buying OpportunityBVS has plummeted hard but seems it has found support on the trendline. I think it is a good support level and price is currently consolidating. I expect price to bounce and start its upswing soon. We should also note that BVS rocketed in early May 2021, and broke its downtrend and has been making higher highs and higher lows. Lets see how it develops.
Please note these are my own notes, by no means trading advice. Please do your own research before entering into any trade.
BXB - Another Buying OpportunityBXB is pulling back currently and has found support on the 200SMA and the POC of Volume Profile around $1.090. If it shows bullish price action within this zone or breaks lower towards the trendline, I would be monitoring to take a long position after bullish price action confirmation. Lets see how it develops.
Please note these are my own notes, by no means trading advice. Please do your own research before entering into any trade.
MNS - Another Buying OpportunityMNS is pulling back and my area of interest is near the 200 SMA, where also lies the POC of Volume Profile. This level is near $0.300, where I will monitor price action for a buying opportunity after confirmation.
Please note these are my own notes, by no means trading advice. Please do your own research before entering into any trade.