Fractal Guesswork...Just a plot here roughly outlining what I think happens next over the future - company stands to benefit from macro trends bla bla bla hype cycle should start sometime this year I assume.
Swoop Cheat Sheet...Correction looks to be in it's last stage here as the majority are throwing in the towel and giving up, Company is operating in areas tied in with macro trends and should benefit well over the next 3-5 years.
MNS ascending triangle break out
Looking at a rejection at 0.435 and watching out for a bounce off the trend line, which will confirm the break out.
Trade at your own risk. All the best!
ARU cup and handleLooking at a cup and handle break. Already at all tight high, so hard to find a target point, but if we follow fibs, I'm looking at Target 1 of $0.69 and Target 2 of $0.86. Cup and handle target ideally would be $1.035, but that's a long bet. I look to trade until Target 1 and then freehold.
DYOR and trade at own risk.
NHC head and shouldersNHC making a head and shoulders. Looks like we are in for a correction to $5.
DYOR and trade at your own risk.
PDN head and shoulderLooks like PDN is done for, for now. Possible head shoulder pattern on daily, with target of $6.35.
DYOR and trade at own risk.
Commercial Bank of Australia..Everyone seems concerned by a run on the banks of late. Then the question came, is this an isolated event? Is this a US banking crisis? Or is there evidence for contagion?
The answer was surprising. Silicon Valley Bank had indeed printed a strong bearish divergence with sell signal back in December 2021. Are other banks doing similar?
First contender is the Commonwealth Bank of Australia. On the above 2-week chart a double top bearish divergence is confirmed. Not dissimilar to SVB. Two obvious areas of support exist. The strongest at $80 and the first support at $86. The $80 level of support has existed for 30 years (see monthly chart below). Will the 30 year support level hold? There is a high probability.
The short term the chart is incredibly bullish with a probable move to $115. After that, be short.
Ww
Monthly chart
Daily chart
CSL looking unwellSo... my previous bullish attempt at this pattern failed, and I am now looking at the bearish play. A rising wedge pattern, looking to break from the rising support line. If this plays out, then the target will be around $248. The target is supported by the height of wedge, fair value gap and fib level, so looks to be a very strong possibility. The bearish sentiment is also supported by the disruptions to CSL business (Vifor), a higher cost environment, interest rates rises and latest drop in dividend payout.
DYOR and trade at own risk.
PMV.ASX_Bullish Value Trade_LongENTRY: 27.65
SL: 26.60
TP: 28.26
- RSI: 3 Mar 2023 shows reverse from ~50 level.
- Stoch: 3 Mar 2023 shows reverse from ~20 level.
- VI: Shows divergence
- Moving averages are aligned.
- Convergence of horizontal and trendline value area (solid yellow lines).
- Entry based on breakout from value areas.
MGX for the double bottom win - WTwo bullish chart patterns I am looking at with MGX. A double bottom on the weekly and a cup and handle on the 4 hrly. Double bottom is likely in play already. Awaiting break out of the cup and handle. A medium term target of $1.00 around April time. I think if Chinese demand plays in to this earlier, we might see it sooner.
For the time being, looking at break out of $0.675 for this to pump.
DYOR and trade at own risk.
MNB cup and handleI'm looking at a cup and handle on MNB in 4hr timeframe. If this breaks $0.135, the upside is beautiful!
I'm generally very biased on phosphate, as I think it is the next oil. This is obviously a very long term view, but am keen to explore the upcoming players in this industry. MNB I feel is one. However, this trade is just that - short term trade. The chart looks very tempting. Let's see how we go.
DYOR and trade at own risk.
GEM.ASX_Bullish Pullback Trade_LongENTRY: 1.230
SL: 1.155
TP: 1.305
- ADX>25
- Daily RS +ve
- Daily FFI +ve
- Weekly RS -ve
- Weekly FFI +ve
- Moving averages are aligned.
- Would like Stoch RSI to cross up 20.
- Entry based on controlled pullback until 8 Feb 2023 to resistance-turn-support area (1.200) and rebounded with increasing volume.
Mean Reversion on LINKNot my usual setup but offers a good R/R for Mean reversion to the previous lows. Two heavy flushes to the downside + Market winds to downside have pushed this stock down rapidly to oversold area.
Position Open: 1.98
Risk: 1.95
Target: 2.5
Trade Open.
FPH.ASX_Bullish Pullback Trade_LongENTRY: 23.60
SL: 22.72
TP: 25.25
- ADX>25
- Daily RS +ve
- Daily FFI +ve
- Weekly RS -ve
- Weekly FFI +ve
- Moving averages are aligned.
- Stoch RSI crosses up 20.
- Entry (on 1 Feb 2023) based on controlled pullback (since high on 20 Jan 2023) to resistance-turn-support area (22.97) and rebounded with increasing volume.
Harvey Norman - Attractive Valuation (Value investing category)
****Not a Financial Advice******
Harvey Norman with a dividend yield of almost 8.5% and now after earning release has corrected between 11-14% in a matter of a week.
The downside is contained with side way consolidation for next few months. Two much bad news and headlines now make it as value buy. Always a good idea to look for opportunities at peak pessimism. Consumer discretionary and housing market/approval downturn pointing in that direction. Markets are forward looking. To me, this looks attractive for Long opportunity with a 1-2 year horizon. Do you own due diligence!!!
Disc: Holding it in my SMSF.
