ATORX buy?Looking at the overall picture there is plenty to be excited about;
- Fundamentals give a target of SEK 24.
- There is a huge gap overhead from roughly 15 to 24.60.
- We found clear support on the 9.4-9.8 area.
However we've just arrived at a pretty significant area of resistance. Both a horizontal support/resistance area and the 50MA.
So ideally I want both these turned into support before looking for a (additional) buy entry.
When to buy VICO.I'm going to look at VICO with a bullish bias because of the fundamentals that give a target of SEK 41,-.
So let's start with the weekly chart on the right:
For a bullish scenario the support of 14.30-14.90 needs to hold.
We just got rejected by the cloud, but if we can find meaningful support the weekly cloud is getting very thin up ahead, so will be easier to break through.
Also from a weekly perspective, the horizontal resistance of around 16.00 needs to be turned into support. That will also put us inside the cloud, creating additional support.
Now the daily chart on the left:
Short term looking for support on the daily cloud and a break of the black trend line. If that happens that gives us a decent entry. BUT then shortly after we already have to content with the resistance at around 16 (weekly cloud bottom edge also), so perhaps not worth it to buy, poor risk/reward.
So taking away from this the following. For a bullish scenario this needs to happen:
1. Daily cloud holding and price staying above support of +-15.00.
2. Weekly cloud needs to be entered.
3. 16.00 resistance needs to be turned into support.
For now, only then should a good buy entry be sought.
What's ONCO's story at the moment?'When in doubt, zoom out'. As ONCO is confusing me somewhat with mixed signals, I decided to take a look at the weekly chart only for now.
So we are inside a descending triangle. Which got broken to the downside during the 'covid crash', but the price recovered nicely back into it.
Long story short, we should wait until the price breaks up or down from this triangle before any real clarity on direction is there.
LONG argument:
- After a fake breakout of a pattern, often the actual breakout will be in the opposite direction.
- After the recovery from 77 to 145, a healthy retrace to almost (not quite) the 0.5 fib has been made and support subsequently was found.
- This 0.5 fib coincides with the bottom and support of the descending triangle.
- Fundamental analysis currently gives 240 as a target.
SHORT argument (short term):
- Lots of resistance overhead; 50MA, W cloud, horizontal resistance and downward trendline (blue).
- Still a gap at 119.70
-
2 possible strategies:
- Buy whenever price reaches support around 110-115, trusting the fundamentals.
- Wait for a breakout of the pattern and then look for an entry.
ALFA LAVAL DAILY ANALYSISHi friends
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$ZWIPECouldnt take out yeasterdays high 12.18, now test 10.8 support level.
If brake will test 9 ( scenario 1, i think most likely)
If not will test 12.18
ABB buying opportunityAs analysts are giving ABB a target of around 240, I am looking for a buying opportunity.
At the moment ABB might be rejected at the current resistance area around 202-206. This resistance also represents the 0.618 fib retrace of the 'corona dump'. The trendline (blue) is still holding, but if it breaks a retrace is to be expected.
THEN I'll be looking at a buying opportunity around 190-192.5 as there is a confluence of support there; the upward trendline (blue), horizontal support (purple/gray zone) and we have a gap still to be filled there at 190.60.
BIOA worryI'm a bit worried about the recent uptrend of Bioartic holding or not.
If we look at the last 'mini' structure, it has broken support and restested that support and got rejected. That puts the blue trendline in danger of breaking.
However there is ample support just below at around 70 and again around 65. Perhaps additional buying opportunities will present itself there. Note the gap at 66.75
So for now hold and look for additional buying opportunities. Target of 86 still in play.
VICORE buying opportunity?VICORE seems to be finding support on the daily cloud, whilst forming a bull flag.
HOWEVER, Vicore needs to get above the 14.65 support for this to stay valid.
IF we see a nice bounce from the current support, a buying opportunity is likely.
Close eye on ONCOONCO is approaching an potential area of support on the daily cloud and long term horizontal area of support/resistance.
So I'm keeping an close eye on its reaction there.
If it can hold AND break the downward (blue) trendline, then that represents a good entry point.
