ASX LIMITED: 10 June, 2024© Master of Elliott Wave Analysis: Hua (Shane) Cuong, CEWA-M
Details: The shorter-term outlook shows that since the low at 61.36, wave 2-grey appears to have ended, and this allows wave 3-grey to unfold to push higher. Wave (i)-orange is unfolding and is fulfilling its role, following which wave (ii)-orange will unfold as ABC. We will be watching ASX LIMITED for a Long Trade Setup.
Invalidation point: 61.36
ASX - NAB: 7 June, 2024© Master of Elliott Wave Analysis: Hua (Shane) Cuong, CEWA-M
The short-term outlook shows that wave ((iv))-navy ended earlier than expected, and wave ((v))-navy opened to push higher, it is subdividing into wave (i),( ii)-orange, and they have concluded, now it is time for wave (iii)-orange to open and push higher.
Invalidation point: 33.30
CYM (CYM.AX) BreakoutI see two breakout patterns. One the longer term, which starts from the original gap down to 35 to the low of 12 at the end of March. The stock then moved up to breakout at 35 on 29/04. The target for this formation is 35 - 12 = 23 pips from the low point to the breakout point, giving a target of 58.
The second is the shorter term, the smaller "cup" formation that starts at 42, down to the low of 32 on 14/05 back to the breakout point at 42 today. The target of this formation is 42 - 32 = 10 pips from the low point to the breakout point, giving a target of 52.
So two breakout patterns in play, giving short term targets of 52 and 58.
WDS.ASX Woodside Energy Down -21% But Double Bottom Seen.Woodside Energy is Down -21% from the last POI.
But Double Bottom is Seen.
A good Dividend Payer Also.
One to always have a 3% portion in your bottom drawer as a consistent dividend income earner.
However, also getting in at the right price is difficult, and this could be an opportunity with the Double Bottom seen. I am Nibbling.
As always, please get a few outside Expert's Advice before taking Trade or Investment decisions.
If you appreciate my Chart Studies, Smash That Rocket Boost Button. It's Just a Click away.
Regards Graham.
CND.ASX Condor Energy Speculative BUY?Condor Energy was one of those <1% Risks I sometimes take, and could be .... Well have a look.
Was previously Global Oil and Gas.
Unfortunately the prior charts have been lost with the name change etc.
There was some very good news on a huge gas discovery that is worth many Billions.
Also the price of Natural Gas is Recently up some 50%.
At that time I surmised that Global or now Condor should consider a partnership, as the Capital could be large to establish the Rigs etc.
Time will tell.
Remains Speculative.
As always, please get a few outside Expert's Advice before taking Trade or Investment Decisions.
Should you appreciate my Chart Studies, Smash That Rocket Boost Button. It's Just a Click away.
Regards Graham.
AGL.ASX Energy Stock looks to Print a Rounding Bottom.AGL Energy looks to Print a Rounding Bottom pattern which is Bullish.
Currently no definitive other patterns are seen. So this makes the Trend Stable IMO.
As the world will need more Energy in the Future, I see this going higher.
Follow the Larger Trend. Use 2 to 3 time frames to see the 15M, 4H and 1W Trend. Make your descisions based on the 1W and 4H.
I also use the IMACD indicator to see the rate of change, also the CCI Stochastic.
Recent price action seems to confirm the Trend. Dedication will be required and is a +2 year Study.
As always, please get a few outside Expert's Advice before taking Trade or Investment Decisions.
Should you appreciate my Chart Studies, Smash That Rocket Boost Button. It's Just a Click away.
Regards Graham.
Analysis of the#WDS #ASX and share your idea with me.At the time when world is changing rapidly with a fast pace then is a good idea to check couple of factors from Woodside Petroleum ASX stock on its balance sheet with high yield to have in watch list for in case but what i can see for clean energy and recent earning and revenue report and the price of a big company like this. So what do you think? Please share with me youridea. Thanks for reading
VMS Has crossed and trading above the ichimochu cloud on the Weekly chart. Using the Weekly to show a longer position.
Been reading about this stock drilling for rare earths in western Australia with results incoming and interesting Tin tenement in Tasmania, worth a look.
Just getting startedThe Michael Jordan of mining Uranium Johnny Borschoff taking control of a new company that currently have 2 mines will be starting production in 2026.
But as stock is about the future everything is priced in if URA/ U price goes up this thing goes ballistic too.
One of my long term positions.
LKE.ASX JOKE - Discovers Refined LithiumLake Recourses was once up over 3000% and if you buy now will recover by the year 3000.
Jokes Aside. Just goes to show total destruction for most Investors.
However, one needs to Speculate now and again. So I am taking a punt on this one with a few $1000 spare. You never know? Could be a +100 Bagger.
Possibility for a take out BUY or Merger Soon.
As always, please get a few outside Expert's Advice before taking Trade or Investment Decisions.
Should you appreciate my Chart Studies, Smash That Rocket Boost Button. It's Just a Click away.
Regards Graham.
SYR.ASX Syrah Resources Ltd Price Targets.Syrah Resources Ltd has recently received some Price Targets Upgrades.
The Trend Cloud Indicator I use is also confirming the Price Action.
Conviction will be required and is a 6 - 9 Month Study.
This is not a long Term Investment, but a Trade due to the highly cyclical nature of these Commodity Stocks.
As always, please get a few outside Expert's Advice before taking Trade or Investment Decisions.
Should you appreciate my Chart Studies, Smash That Rocket Boost Button. It's Just a Click away.
Regards Graham.
Centaurus Metals ready to rip?After declining by more than 80%, Centaurus Metals has broken out of its downtrend. While this may be the first step in a multiweek base-building process for the nickel mine developer, the chance of a v-shaped bottom makes Centaurus worthy of a speculative add following this seriously bullish price action.
Once in a lifetime OpportunityFSGS cure in the making.
-Phase 3 results coming mid 2025.
- DXB has been working on this since 2012 trialing
-Estimated 200k people in the world have this disease and increasing.
- Recently did a CR at 0.3
Safe to say if suceed the market is enormous with a great chance to become a 20 bagger.
LYC - LYNAS - rare earth anti chinese monopoly playLYC - LYNAS - rare earth anti chinese monopoly play
as the title says, china is once again applying restrictions like they did in 2010, low and behold we have the same price structure!
these plays are cyclical for sure. they sorted their Malaysian issue recently, at least for awhile. i expect their move back to Australia will be facilitated by the western powers that be that are looking for independence in their important metals supply chain.
Lets see how this plays out.
"The Ministry of Commerce’s announcement on Monday is the
latest move by the People’s Republic to leverage its dominant
position mining and refining rare metals. It did so in 2010
against Japan over a territorial spat, enacting an unofficial,
temporary export embargo against the 17 metallic elements that
comprise the rare earths family. It also manipulated the market
through export quotas and other policies, which held down global
prices – deterring investment by miners overseas - while pushing
local firms up the value chain. "
What a beautiful strike AWC! A.W.C has a big breakout from both resistance and downward trend. it sits up on 200MA.
All the trend lines are intact. 5/10/20/60 MAs are pointing up with a beautiful 45 degree angles.
More investors are joining to AWC. Although Citi / Morgan see the price at $1.30.
AWC produces Aluminum which is used in construction. There will be more demands in coming days. I can not wait to see.
Whether you love it or not. I am happy to share. Pls leave me a message and let me know your thoughts.
Comparing two companies - price action James Hardie vs Boral Limited ASX:BLD
- Price action side by side
- Key levels of Boral
- Keep track of sector and companies
- Trend first and later study fundamental ( for me😉)
Waiting for your comments to learn and share more ....
disc: Not invested , don't know about future
no recommendation only education and entertainment
Boss Energy about to do the nastyI recommend Boss Energy here, because it’s coming off a big bowl, and the upside target leaves good runway from here, into mid 2026, where you’ll want to sell into the highs, and chillax for seven years, before the next bull run in stocks begins. Trouble or shock in the market in 2026, probably aligned with the commercial real estate debacle, and bank panics due to 90% write offs, and mass insurance drop page, as assets “street price” plummet. How can you insure the hyper-inflated prices as an insurance company, when you know the quality of the underlying asset is poor?
But more importantly that that, Boss Energy is the only uranium stock that has been seen to outperform Uranium Energy Corp.. Concatenate any two miners together (UEC/BOSS), and you’ll see that UEC is the most bullish, and with the largest amplitude - largest potential. Others like UUUU move a lot, but have lagged. CCJ has been crushing, let’s face it, and it’s about to quickly double from here. Let the games begin.