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Asxshort

XRO - Will the rally continue?XRO has been in its parabolic rise but will it continue further up. XRO has catapulted straight up in a straight line since a few years and any asset exhibiting such a parabolic move may often be followed by a sharp decline in price value. XRO has so far got rejected in the month of January 2021, at around $155.00 and currently trading at $136.00. Could it be the start of a decline in its price value? The Monthly RSI value is 77.58 and the Weekly RSI is now at 64 after being extremely overbought and cooling off after giving a reading of 83 two weeks earlier. We can see a Bearish Engulfing Candlestick pattern forming this month though the month has not finished yet, but we should be mindful of the fact that if it closes this month weak, may be at the current levels or weaker, then it might continue lower in the months ahead for a deeper pull back. It seems that at these current levels, it is extremely risky to buy XRO. We could see the pullback towards the 50% to 61.8% zone between $65.00 - $85.00 for a potential buying opportunity. Please note these are my own notes for future reference, by no means trading advise for anyone. Please do your own research before entering into any trade.
ASX:XROShort
by AsimMirzaTrader
1
ASX - Could we see a Deep Pullback?We have witnessed a superb rally over the years since the start of 2009, but at current levels it seems that ASX may have already started to rollover for a deeper pullback. 1. It seems that it has already made a High in October 2020 and since it was very overbought, the price action since the last 4-5 months have been bearish and it has become toppy. 2. We can clearly see a topping wedge pattern in formation with a MACD cross, indicating Bearish Momentum on the Monthly Chart. If price breaks down lower out of this pattern, we may see some kind of acceleration in Bearish Momentum. 3. Currently it is hovering around $72.00 and there is 200 Weeks Moving Average at $69.00. 4. We might see this support of $69.00 to hold temporarily but ASX is expected to go futher down. It may go down to the Buy Zone of $49.00 - $58.00, which is a Fibonacci Retracement rage of 50% - 61.8% and also the Base Trendline Support, which is added confluence. 5. We may see small bounces or Lower Highs on the way down. Please note these are my own notes for future reference, by no means trading advise for anyone. Please do your own research before entering into any trade.
ASX:ASXShort
by AsimMirzaTrader
MPL - The next Pullback Could be a Buying OpportunityBullish Trend Indications: The chart of MPL has developed well, indicating that the Bear trend has finished and after price hitting Resistance, it is trying to pull back. The downtrend line has been broken decisively with good Volume and has hit Resistance. It has also developed a Golden Cross. We can clearly see that while price had been moving higher, OBV has been decreasing. This shows lack of upside Volume which indicates divergence and decreasing Volume. We can also see a Bearish Divergent MACD Cross also indicating lack of Momentum, while price was moving higher which shows that it is ripe and ready to pull back. I expect it to head lower into the Buy Zone of $2.60 - $2.80 range where I will be looking to buy after Bullish Price Action. Please note these are my own notes, by no means trading advise. Please do your own research before entering into any trade.
ASX:MPLShort
by AsimMirzaTrader
buying opportunity at 0.750 best at 0.375 1. It's definitely overbought, RSI 79 (Monthly) RSI 58 (Weekly) RSI 50 (Daily) 2. Losing volume, based on volume indicators less volume with rising price is again bearish indicator. 3. could be good to consider buying at Fib level 0.5 at $0.750, Its also price consolidation zone just around 30% retracement from current price. 4. Ideally best buying should be in support zone between 0.420 - .0375. Please note these are my own notes, for my future reference only. By no means trading advise to anyone. Please do your own research before entering into any trade.
ASX:DEGShort
by AsimMirzaTrader
Short term bearish, medium term bullish 1. On daily chart losing volume and overbought. 2. will probably come down to find support at $6.56 confirmed by following three indicators: a 50 MA b. Fib Level 0.236 c. high volume trade zone 3. Price consolidation zone is $6.17 to $5.67, good support level. 4. if support at $6.56 range fails then next major support is at $5.64. 5. I think my strategy would be: a. buy moderately at $6.51 range b. wait and see how trend settles, if it comes further down then expect support at $5.94 range and buy as much as I can Note: Please note these are my notes for my own future reference. By no means trading advise to anyone. Please do your own research before entering into any trade.
ASX:AIAShort
by AsimMirzaTrader
TPW - Medium term Bearish Trend ConfirmationBearish Trend Confirmation Indications: 1. The trend has got weak on the weekly and Monthly with Bearish Engulfing Candles and High Volume 2. The price has formed a lower Highs and a lower Lows on the Daily which is confirmation of a bearish trend 3. The down move was a powerful and impulsive wave I expect price to retrace on the upside, and I expect price to get weak at or near (Resistance Zone between $10.50 - $11.00 level), where sellers may attempt to dump the stock. I expect price to get weak. The ideal level and extremely Strong Support Zone is between $6.50 - $8.00, but it is not necessary that price may drop all the way down to $6.40. There may be little swings on the way down but will have to see where TPW finds strong support. I would be a confident buyer at that strong support level for a long term position. Please note these are my own notes, by no means trading advice. Please do your own research before entering into any trade.
ASX:TPWShort
by AsimMirzaTrader
CGF - Another Buying OpportunityBullish Confirmation Indications Recent price action has confirmed a reversal by pumping upwards and forming a higher high. 1. Price has formed a higher high 2. It has formed a Golden Cross 3. Recent session's price action, ( Bearish Candle) indicates that the stock price is facing a hard time continuing up 4. The price is at 50% Fib Retracement level of $6.60 and which is also a Resistance Zone 5. MACD is suggesting that Bullish Momentum is exhausting 6. I will be confident to buy in the $5.10 - $6.10 region (Buy Zone). Please note these are my own notes, by no means trading advice. Please do your own research before entering into any trade.
ASX:CGFShort
by AsimMirzaTrader
S32 - Next Pullback may give a Buying OpportunityBullish Confirmation Indications Recent price action has confirmed a reversal by pumping upwards and forming a higher high. 1. Price has formed a higher high 2. It has formed a Golden Cross 3. Recent consolidation at Resistance indicates that the stock price is facing a hard time continuing up 4. The price is at 78.6% Fib Retracement level of $2.45 and @2.60 range, which is also a Resistance Zone 5. OBV suggesting Bullish Volume may be fading 6. I will be confident to buy in the $2.20 - $2.35 region (Buy Zone). Please note these are my own notes, by no means trading advice. Please do your own research before entering into any trade.
ASX:S32Short
by AsimMirzaTrader
EML - May provide a Buying Opportunity SoonBullish Confirmation Indications Recent price action has confirmed a reversal by forming a higher highs. 1. Price has formed higher highs 2. It has formed a Golden Cross 3. After forming a Higher High, price failed to continue upwards and is now pulling back 4. This pull back has come down and has entered in the Buy Zone and Fib retracement zone of( 50% - 61.86%) of $3.40 - 3.70 5. There is also a trendline support (confluence) which may also be a bouncing spot at $3.50 6. I will be confident to buy in the $3.40 - $3.70 region (Buy Zone). Please note these are my own notes, by no means trading advice. Please do your own research before entering into any trade.
ASX:EMLShort
by AsimMirzaTrader
1
APT - Getting Very RiskyAPT has been forming Higher Highs and has been in a superb uptrend but now it looks very risky at such elevated levels. As we can see that it has been supported by the upward trendline, we should also notice a Bearish Divergent MACD Cross which indicates that the Bullish Momentum may be running out of steam for now. I believe that if we see the trendline break, we might see a follow through and price to plummet all the way down to Support at the $70.00 - $72.00 range. This could be a 35% move from current price level of $110.00. APT has been in a Long Term Uptrend and I think we might see a shift in the Medium Term Trend soon, which is fine and healthy for the Long Term Uptrend to continue. Please note these are my own notes, by no means trading advise. Please do your own research before entering into any trade.
AShort
by AsimMirzaTrader
2
SPT - Looks very InterestingBullish Confirmation Indications Recent price action may have confirmed a reversal as we can see that price came down to the trendline and has since moved up. Price has also moved out of the downtrend line (triangle) which indicates that Buyers are strong. 1. Price has been supportive at the support level of $1.00 - $1.30 zone 2. There also lies a trendline which has acted as good support 3. There also lies 200 day Moving Average trending upward and has provided Dynamic Support (Confluence) 4. Price has been failing to continue up because of the Resistance Zone of $1.430 - $1.470 range 5. I believe that price may come down again to give a buying opportunity and backtest the trendline and continue up 6. I will be confident to buy in the $1.120 - $1.20 region (Buy Zone) after proving some Bullish Price Action Please note these are my own notes, by no means trading advice. Please do your own research before entering into any trade.
SShort
by AsimMirzaTrader
A2M - Bearish (May have more room to the Downside)Bearish Confirmation Indications according to Volume Profile Strategy As the trend line is apparently broken, the price is now below the heavy volume zone between $13.80 - @14.20 (which may now act as resistance and hence may get selling pressure to the next volume profile zone between $9.60 - @10.20. There are two bearish scenarios that may be possibly in development. Scenario 1 Either price finds support at the current price level of $13.00 and goes up to hit the High Volume Profile Zone of $13.80 - @14.20 and heads lower to the next lower High Volume Profile Support Zone of $9.60 - @10.20. Scenario 2 The price continues lower and finds significant support at the next High Profile Support Zone of $9.60 - @10.20.The Volume Profile Zone of $9.60 - @10.20 is expected to be a very strong support zone where I would be interested to buy for medium term. Please note these are my own notes, by no means trading advice. Please do your own research before entering into any trade.
ASX:A2MShort
by AsimMirzaTrader
15
KGN - Medium term Bearish Trend ConfirmationBearish Trend Confirmation Indications: 1. The trend has got weak on the weekly and Monthly with Bearish Engulfing Candles and High Volume 2. The price has broken the trendline and formed a lower High and a lower Low which is confirmation of a bearish trend 3. The down move was a powerful and impulsive wave I expect price to retrace on the upside, and I expect price to get weak at or near (Resistance 1 ~ $20.00 level) or (Resistance 2 ~ $22.50 level), where sellers will attempt to dump the stock. I expect price to get dumped. The ideal level and extremely Strong Support Zone is between $9.00 - $10.00, but it is not necessary that price may drop all the way down to $10.00. There may be little swings on the way down but will have to see where KGN finds strong support. I would be a confident buyer at that strong support level for a long term position. Please note these are my own notes, by no means trading advice. Please do your own research before entering into any trade.
ASX:KGNShort
by AsimMirzaTrader
1
KLA - Looks like that the medium term trend has changedBearish trend confirmation indications: 1. Formed a double top on the Weekly and Monthly charts 2. It is coming down in a stair step fashion, making lower highs and lower lows on the Daily Chart 3. The bullish trend has been running since a long time, but the monthly candle for November was a big red engulfing candle, and a bearish closing near the lows. 4. Seems that the Bulls have exhausted. There might be two scenarios in the near future. Scenario 1. Price might go up to Resistance Zone of ~$63.00 - ~$66.00, and then fall. Scenario 2. Price might consolidate within ~$53.00 - ~$57.00 and shall break the Support of $ 53.00 and close below. In either case, I think that the Bulls have got weak at the current levels, and buying is Risky now. I am expecting price to fall below Support of $53.00 and would be looking to buy at Strong Support Zone (at or close to $39.00 - $41.00) after confirmation of Bullish Price Action. The Support Zone of $39.00 - $41.00 has been strong in the past as well, so it might be a very good buying opportunity when it reaches the Support Zone. Please note these are my own notes, by no means trading advise. Please do your own research before entering into any trade.
KShort
by AsimMirzaTrader
EVT - Presenting good buying opportunity between $9.40 and $8.75EVT is expected to provide a good buying opportunity between $9.40 and $8.75. It has proven that it is now in an uptrend and the bullish confirmation indications are: 1. It has been printing higher highs and higher lows 2. it had formed a golden cross which is bullish 3. The recent swing to $11.50 was very impulsive Since it has hit the Resistance level of $11.50, it has been forming bearish candles, which suggests now there is selling pressure and it may pull back. I think it will present a very good buying opportunity. I think it may pull back to its 50% Fibonacci Retracement level and there is also a gap window in the Buy Zone, between $9.40 and $8.75. which is a confluence. Please note these are my own notes for future reference, by no means trading advice to anyone. Please do your own research before entering into any trade
ASX:EVTShort
by AsimMirzaTrader
2
WHC - Ultimate Buying OpportunityBullish Confirmation Indications 1. WHC has broken out of the long term downward trendline with High Volume 2. Price Action have been impulsive which indicates that Bulls are in control. I am a confident buyer between $1.285 - $1.175 Buy Zone which can give potentially a 70 % gain. Please note these are my own notes for future reference, by no means trading advise to anyone. Please do your own research before entering into any trade.
ASX:WHCShort
by AsimMirzaTrader
SHL - Bearish Trend ConfirmationSHL - Bearish Trend Confirmation Indications: 1. The trend has got weak on the Weekly and Monthly with Bearish Engulfing Candles 2. The price has broken the trendline which is confirmation of a bearish trend 3. The down move was a powerful and impulsive wave I expect price to retrace on the upside, and I expect price to get weak at or near (Resistance 1 ~ $34.85 level) or (Resistance 2 ~ $36.75 level), where sellers may attempt to dump the stock and form a Lower High. I expect price to get dumped from either of the Resistance Levels. I believe that buying now is Risky. The ideal level and extremely Strong Support Zone is between ~ $26.50 - ~ $27.30, but it is not necessary that price may drop all the way down to these levels. There may be little swings on the way down but will have to see where SHL finds strong support. I would be a confident buyer at that strong support level for a long term position. Please note these are my own notes, by no means trading advice. Please do your own research before entering into any trade.
ASX:SHLShort
by AsimMirzaTrader
NST - Seems that the medium term trend has changed.Bearish trend confirmation indications: 1. Formed a double top and broke the trendline. 2. It has made a swing low of $12.18 and consolidating near the Support Zone. 3. The bullish trend has been running since a long time, but the monthly candle for November was a big red engulfing candle, and a bearish closing near the lows. 4. Seems that the Bulls have exhausted. There might be two scenarios in the near future. Scenario 1. Price might go up and backtest the broken trendline and Resistance, and then fall. Scenario 2. Price might consolidate and will break the Support of $ 12.18 and close below. In either case, I think that the Bulls have got weak at the current levels, and buying is Risky now. I am expecting price to fall below Support of $12.18 and would be looking to buy at Support 2 (at or close to $8.00 - $9.00) after confirmation of Bullish Price Action. The Support 2 area of $8.00 - $9.00 has been strong in the past as well, so it might be a good buying opportunity when it reaches the Support 2 Zone. Please note these are my own notes, by no means trading advise. Please do your own research before entering into any trade.
ASX:NSTShort
by AsimMirzaTrader
1
A2M - Bearish Trend ContinuationBearish Trend Continuation Indications: 1. Bullish Trendline is broken 2. Has been consolidating below the trendline since ten trading sessions. 3. Unable to break above the trendline and close. 4. It did try to move up but was unable to sustain above once, and then fell below. Scenario 1. I would be comfortable to buy once it reaches the Buy Zone between $11.22 and $11.95 and shows Bullish Price Action. Scenario 2. I would buy when it closes above the swing high trendline for atleast two consecutive days to show that Bulls have regained control. P.S. My target would be $20.00 level (Previous Resistance), which would be 60% gain. Please note these are my own notes, by no means trading advice. Please do your own research before entering into any trade.
ASX:A2MShort
by AsimMirzaTrader
4
Wait for Ultimate buying opportunity at $20.50 rangeLooks like it is still in pressure, making lower lows and making lower highs, continuing it's down trend. Next support is around $25.08 range, if breaks then $21.50 is pretty storng support, presenting good buying opportunity. If this scenario realizes then followign should be Take Profits: 1. TP-1: $25.00 ~ (20% profit approximately) 2. TP-2: $29.90 ~ (19% profit approximately) 3. TP-3: $31.70 ~ (5% profit approximately) Please note these are my own notes for future reference, by no means trading advise to anyone. Please do your own research before entering into any trade.
NShort
by AsimMirzaTrader