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Trendfollowing

IGO @ 10 Sep 2021IGO - First time doing a written analysis on IGO - Has history of multiple uptrends but also multiple downtrends - Historically, the stock has traded in a tight range that is bounded by strong resistances and supports - Created new all-time high a month ago when it briefly tested the 10.00 psychological resistance - Stock recently formed a Lower High (LH) and Higher Low (HL) - A break of either the counter-trendline resistance or the trendline support might lead to a strong push in either direction - R is less than 10% - Strategy-to-buy (DYOR) – Suggest waiting for successful breakout of counter-trendline
ASX:IGO
by Jerm88
Warning signs... ETH signalling more downside?The signs were starting to develop, but yesterday really brought the picture into clearer focus: - ETH daily showing downside potential with RSI divergence to price - MACD (longer MA settings) starting to cross down My daily stop-and-reverse system has gotten me out of everything. So sitting on the side lines until things change: P.S. This is marked as a short idea, but I never actually go short, just bearish for now. #LongOnly
BITSTAMP:ETHUSDShort
by CJilitis
2
CSL @ 7 SEP 2021CSL - Previous analysis was done on 2 Sep -> suggested half entry around 307 levels if comfortable with overhead resistance zone - Recent price action has seen the stock nicely rebounded of the counter-trendline -> This is significant as the counter-trendline used to be a resistance (red arrows) but has now become a support (green arrow) - Be mindful of overhead resistance zone and suggest to manage risk by entering half position - Topping up remaining half position after overhead resistance is broken - If missed previously suggested entry around 307 levels, current price still presents some opportunities - R is below 10% - Strategy-to-buy (DYOR) – Suggest half entry around 310 levels if comfortable with overhead resistance zone
ASX:CSL
by Jerm88
Bitcoin Surges Up!Blink and you can end up missing some big moves in Bitcoin which is taking on a life of its own. This instrument was showing signs of weakness in May this year where it fell to below $30,000 and hit the weekly 50 simple moving average. In July, the buyers came back into the market and have pushed price up 79% to where it currently stands at over $50,000. Although the last 2 months have been bullish, price is still over $13,000 away from the all-time high at $64,895 so there is still a bit of fight for the bulls to overcome. This current decline followed by the bounce could easily turn into a long-term period of consolidation that could last for months and even years. Right now though, the momentum could take price to record highs. With Bitcoin on the move, you will notice that other coins are starting to move too and Ethereum is another strong cryptocurrency. Bitcoin is seen as the main cryptocurrency and the index for this market that shows us how this market is performing overall. We now want to see price breakout and rally through the rest of the year. See below for more information on our trading techniques. As always, keep it simple, keep it Sublime.
BITSTAMP:BTCUSDLong
by Sublime_Trading
More Record Highs For The S&P 500!The S&P 500 continues to climb up the slope formed from the 20 and 50 simple moving averages. In the last post, price had broken above a previous high at $4480, and has now moved up another 1.5%. The trend in this Index is strong, and we can see a nice pattern of higher highs and higher lows forming here. It was only back in April when price was approaching the $4,000 round number, and there was some uncertainty whether price would make it past. 5 months later and price has moved well beyond that level and looks set to move towards $5,000. The journey to $5,000 may be a bumpy one as we might see periods of consolidation and other forms of turbulence along the way. Price is halfway there and the market currently looks strong as a whole, with stocks creating record highs in the strong sectors such as Health Care and Real Estate. We shall continue to take only the highest probability opportunities to increase our edge over the market. See below for more information on our trading techniques. As always, keep it simple, keep it Sublime.
TVC:SPXLong
by Sublime_Trading
QPM @ 1 SEP 2021QPM - First time doing a written analysis on QPM - Stock started to show uptrend in 2021 - Currently trading near a resistance that was formed in 2012 -> it would be more difficult to sustain the overall price trajectory - I usually classify stocks less than 50 cents as a penny stock as a relatively healthy pullback to the short-term support could see price swings of 10-20% -> too volatile for me - A stock that attracts short-term traders but it’s advisable to stay away if you prefer peace of mind - R is more than 10% - Strategy-to-buy (DYOR) – Suggest waiting for overhead resistance to be broken first. Only enter if comfortable with the price swings
ASX:QPM
by Jerm88
CAR @ 1 SEP 2021CAR - First time doing a written analysis on CAR - Has a history of good uptrends over the years - Recent price action since mid-Aug has seen the stock gone up quite far from the short-term support - I was hoping to see a stronger pullback to the short-term support for a better setup for entry - This week’s price action shows signs of a reversal and the stock looks to be in a rebound - A successful rebound would be near 26 levels -> due to sharp retracement at the beginning of the retracement wave - R is less than 10% - Strategy-to-buy (DYOR) – Suggest waiting for a successful rebound before entry near 26 levels
ASX:CAR
by Jerm88
MPL @ 31 Aug 2021MPL - First time doing a written analysis on MPL - Over the last 6 years, the stock has been trading within 2.40-3.60 levels - Stock is currently trading near all-time high regions -> A successful breakout has a potential to see the stock fly - Price consolidation over the last 2 weeks to test the short-term support looks like a breather before testing the last overhead resistance - R is less than 10% - Strategy-to-buy (DYOR) – Suggest waiting for a successful breakout
ASX:MPL
by Jerm88
LYC @ 31 Aug 2021LYC - First time doing a written analysis on LYC - Has some history of good uptrends that lasts for months - Also has history of downtrends that lasts for years -> represents overhead resistances for the stock - Stock price may not go up as fast as other stocks without these overhead resistances - Stock is currently trading between the short- and mid-term averages -> any break of support or resistance would require above average volume - A rebound to around 7.50 levels would be considered a successful rebound - R is more than 10% - Strategy-to-buy (DYOR) – Suggest waiting for successful rebound to 7.50 levels
ASX:LYC
by Jerm88
HLS @ 31 Aug 2021HLS - Previous analysis was done on 26 Aug -> suggested to wait for successful breakout of strong resistance - Since then, the stock has retraced all the way down to test the mid-term support - Today’s price action is first sign of a potential rebound -> but more positive indicators are required - Some traders may try to use the Support Strategy for entry, but it sometimes pays to be cautious - strong resistance zone (formed since 2013) at 5.15-5.35 levels - R is less than 10% - Strategy-to-buy (DYOR) – Suggest waiting for successful breakout of strong resistance zone
ASX:HLS
by Jerm88
APT @ 30 Aug 2021APT - First time doing a written analysis on APT - Has a history of good uptrend - Stock has technically formed Higher Highs (HHs) and Higher Lows (HLs) -> signifying sustained uptrend - Stock volatility is quite high -> may not be suitable for all types of traders - Stock experiences plenty of gap ups and gap downs -> introduces unwanted stress/emotions and negatively encourages stock monitoring - Sideways consolidation over the last few weeks is good - R is less than 10% - Strategy-to-buy (DYOR) – Suggest entry around 136 levels if comfortable with high price volatilities and price gaps
A
by Jerm88
1
PLS @ 30 August 2021PLS - First time doing a written analysis on PLS - Stock has some history of uptrend but aren’t long enough (ie. less than 3 months) to my liking - Price retracement in mid-August is quite a big drop (ie. About 20%) but mostly due to the strong price increases before that - Price respects the short-term average -> very good - Price recently formed a Lower High (LH) but it’s understandable due to the big drop in the subsequent retracement wave - Today’s price action looks to be a nice rebound and might present buying opportunities for some traders - Stock hasn’t broken through counter-trendline - R is more than 10% - Strategy-to-buy (DYOR) – Suggest to use breakout strategies once stock successfully breakout of counter-trendline with strong volume
ASX:PLS
by Jerm88
Bitcoin Second Rally?If we take our minds back to May this year, we will recall the fall that Bitcoin and most of the cryptocurrency market endured. There was a lot of panic selling and buyers were scrambling to get into Bitcoin at a cheaper price as it had fallen from over $64,000 to just under $29,000. Price hovered around $29,000 from May to July until the buyers could build up enough momentum to push price up. At the support level, we can see that the 50 simple moving average helped to hold price up and gave price that final push upwards. Above price we have the $50,000 round number, which may act as a psychological level of resistance. Price has now tagged this level. If it breaks above this level and completely clears it, we then want to see price move towards the all-time high at $64,895. The rally in Bitcoin may not be over just yet but let’s see how price reacts to levels of resistance in the way. See below for more information on our trading techniques. As always, keep it simple, keep it Sublime.
BITSTAMP:BTCUSDLong
by Sublime_Trading