Western Midstream Partners (NYSE: ASX:WES ) announced its first-quarter 2024 financial and operating results, generating a record net income attributable to limited partners of $559.5 million and a record adjusted EBITDA of $608.4 million. The company also reported cash flows provided by operating activities of $399.7 million, generating a first-quarter Free cash...
Wesfarmers have reach all time highs and due a correction - RSI divergence indicating SELL - Buy @ $58 - $60 range - This would be a high probability trade to gain for Short Term Trade
ENTRY: 15.48 SL: 54.90 TP1: 57.63 TP2: 59.30 - ADX<20 - RSI>50, RSI<70 - Daily RS -ve - Daily FFI +ve - Daily MACD +ve - Weekly RS +ve - Weekly FFI +ve - Weekly MACD -ve - Breakout with high volume above previous high and HVN, but prefer a better closing
Key Technicals - Cup & Handle Pattern, buying on breakout of cup (above average volume) or retest of cup line as resistance becomes support. Key Fundamentals - Strong management along with one of the strongest balance sheets(ASX TOP 50) according to AFR.
ENTRY: 52.20 TP: 53.48 SL: 51.13 - ADX<25 - RSI>60 - FFI +ve - RS -ve. Hence enter with smaller position. - MA are aligned - Breakout with good volume from ranging since 14 Dec 2020
When we look around the world, it often feels like the sky is falling if you tune into financial media. Well here, we look at the charts and see if we can find trends. We have a new breakout in an important commodity economy. Australia! Let’s have a look at the chart. So here we have Australia going nowhere since June. Tons of failed breakouts with the wicks not...
Ticker: WES Position: ~ $7.00 Strike Call (Currently around $0.62/ contract) ~ May 15th expiry ~ Delta = 0.57 ~ Risk no more than $300 (4-5 contracts) Exit/ Profit Targets: ~ Close below the neckline = exit trade (approximately $6.00) ~ Initial target = $8.00 ~ Secondary target = $11.00 Rationale: ~ Inverted H+S breakout ~ RSI confirming latest move...
Quick pattern update here. WES appears to have an Inverse H+S pattern forming on the lower timeframe. A clean break from the pattern would target the $9.30 range, setting a conservative exit, with a close below the purported right shoulder would minimize potential for losses. WES has been one on my list for a while lately and I recently closed a position for...
Ticker: WES Position: ~ $4.00 Strike Calls ~ May 15th Expiry ~ Cost = $0.40/ contract (at time of writing) ~ Delta = 0.56 ~ Run 5x contracts = $200 total outlay for the trade (subject to change) Profit Targets/ Exit: ~ Due to the low cost of the trade, i will likely not run a stop on this position, but i have outlined a stop at the $2.50 level ~...
Ticker: WES (right side is XLE for comparative purposes on a weekly) Position: - Feb 21st Expiry - 5x $20 Strike Puts (ITM) - delta = 0.60 - cost = $1.38/ contract - 5x $18 Strike Puts (OTM) - delta = 0.19 - cost = $0.35/ contract - Should the stock move to the initial target, the OTM options will be more than covered by the ITM options increase in premium ...
Wesfarmers Ltd (ASX: WES) is often regarded as one of the best blue chips on the ASX. Breaking out today and heading higher ahead of earnings. Technical indicators are bullish. Good stock to buy and hold.
Look for sells up at the 1.618 fib level. WES has been looking very strong so a pullback to some support is definitely going to happen sometime.
Reflecting on our positions and where this trade is likely to trade
Our wave 2 low from support looks to be holding strong. I believe the wave 3 has started and section 232 tariffs on Uranium as likely to be the driver moving forward. The target for Wave 3 is above $7, section 232 announcement is in April.
Western Gas Partners (WES) broke out of the small downtrend (yellow). It means that wave B is over and the wave C up has started. Price could reach either the previous top tagged by wave A at 67.44 or hit further up to touch previous major top at 79.81 as highlighted with orange rectangle.
Feb 17 18:00 AEDT March Futures expire next week hence I am using "K" May 17. As at Feb 7 Net Long CoT Managed Money stood at 360k open interest. (Source CME Group) I commented on the Weekly Chart last week, but thought I would add my view on the Daily, since I am now long oil. I believe this chart shows a bull flag on the late Nov 2016 rise. I have an up sloping...
Feb 12: 23.00 AEDT Ok here is one for the oil bulls. This stock has been beaten up recently, but the falling wedge and solid volume support at $3.60 and $3.90 suggests ST potential. Weekly Support is rising underneath, but at $3.50+ Ok the Trade: Buy now on the bullish gap bar at $3.90 SL $3.80 TP#1 $4.10 TP#2 $4.40 RR := 50/10 If it fails - re-enter at the...