WHC ran out of steam and couldn't take out the previous high, Looking like it needs to "recharge" which in stockland world mean it needs to shake the fark out of the weak Coal Tourists make them sell scoop up the liquidity then run it past the highs. If it breaks below range low marked on the chart approx 7.76 this will trigger a cascade of stops pushing price...
back into range 2 looking for accumulation in this range and a re-claim of the range high to get long on WHC. Watching waiting and planning. patience is the key. If it keeps dumping then let it dump see you in hell who cares. BUT if it accumulates and reclimas the range high., its time to pay attention.
ENTRY: 8.96 SL: 8.32 TP: 9.67 - ADX>25 - Daily RS +ve - Daily FFI +ve - Weekly RS +ve - Weekly FFI +ve - Moving averages are aligned. - Breakout from range today with volume. - Entry today based on breakout and >3% rebound off 10EMA with volume .
Using the volume profile (VPVR), we can see confluence between the 2009 swing low and the bottom of "value". This immediately gives two reasons to signal that the tide may have turned in favor of the bulls. The value high @ $3.845 lines up with the midpoint (50%) of the entire chart, which gives extra validity to that price level acting as significant high...
Bullish 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...
Looking at WHC on a weekly chart Price has come down into our buy zone Price coming down into value low on VPVR and also sitting on the 786 fib Internal indicators looking pretty good All im waiting for is structure to come in on price Potential 100% profit trade
Whitehaven Coal approaching key support level. Will it hold? Fundamental is not looking good due to labour shortages and bushfire disruption. It is below all moving averages and other technical indicators are showing it most likely to go lower towards the key support line of $2.49. Not financial advice but If I was holding, it is time to sell and buy something else.
If you cant see the chart double click the price column. Heres my trade set-up for $WHC today; long off the .618 fib level. Strong company $4.43Bil mcap, energy sector. Not financial advice.