buying ANN with stop at 30.50ANN acting well and broke out of a decent base at all time high. look strong price action and have the potential to move up higher with overall market positivity. keeping a tight stop again around 4.5% to test the idea.
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ANN trade ideas
ANN Breakout TradeBreakout trade opportunity, taking a position at a safe place. Stock has had a big rounding base pattern and has been on a downtrend for two years. We are now starting to see a possible early recovery. Looking to
False breakout has occurred over major resistance. Price action is retracing and I am waiting to enter around $28.10, where a few technical confluences come together.
• Level where recent volume profile peak occurs - likely to be supported.
• Fib retracement level 0.382
• Also pulling back toward the 50 moving average.
• At current levels, if breakout does continue, it could potentially run up to $31 quickly as this is a region of low volume profile node.
I expect that after this retracement, it will continue to move higher and break through the resistance level again. Taking a long 2.6R trade.
ASX - ANN - AnsellI had a mid term trade on this back in Feb 2021.
I took profit at the double top which has worked out well.
I have always had it on my watch list and now the opportunity has arisen for me to jump in with a larger stake for a much longer trade length.
This will be potentially a long term investment.
Founded in 1929, Ansell is the Aussie Proctor and Gamble.
from 2007 they have increased their dividend from $0.20 15 years ago to $0.79 now.
CADR of 10%. with a ROIC of 10% over the last 10 years Management have a proven track record of investing capital wisely.
Current dividend payout ratio is still at 40% so they potentially still have room to grow.
Current dividend yield is about 3.5% adding on the 10% yearly ROIC whilst reinvesting dividends ill be looking at a 13.5% yearly compound.
Ansell Limited (ANN - Sydney) - ABC wave patternAnsell Limited (ANN - Sydney) is in ABC wave pattern from major bottom and then shown a V shape rally from that point. Currently price is within 3rd of wave C as indicated in chart. XJO index itself is in C wave up, which drives it even easily up towards C wave.
Short ANNOn the weekly, it has formed a bearish shooting star just below the 13 EMA and fail to break above its high for the past 3 weeks. The MACD and Stoch are indicating a bearish movement to the downside, the Weekly gets a better understanding for long term picture. On the daily, price is underneath 13 and 50 EMA, Stoch is formed a bearish signal as well, confirming with the weekly trend as well. Will look for entry on smaller time frames.
$ANN Ansell ASX trade set-up long Heres my trade setup today $ANN Ansell on the ASX 442 units at 22.56 based on lows trending up and oversold. Interested in this as a mid to long term investment and will play S/R levels along the way. Not financial advice as trading is risky and if Trump has a bad hair day, it can all go pear shaped.
ANSELL - CLEAN UP EXERCISE - 5-20% POTENTIALAnsell Cleaning:
Trend indicates another push up to test ATH.
Currently completing a 5th Wave.
Wave 2 & 4 respected the .65 Fib levels.
We see a long term trend being respected.
A price gap from 5 weeks ago is yet to filled, expect the price to re-tested the $27.80 region.
Two Setups available.
"Annsell" " ANN" ASX Chart price increase to $28.00 The initial catch of eye was the head and shoulders pattern on the weekly chart.
After looking at the daily we see a similar patter to a double bottom ( not a proper double bottom given position of trend, but can also be perceived as a cup and handle. Moving averages and momentum produce a buy signal and so do the candle sticks in relation to volume.
The relevance is the break of resistance on the weekly and daily chart cup and handle followed by and increase in volume to confirm its validity. The $28 target is easily done as future price action will probable exceed the $30 mark given time.
This is my thoughts and analysis.
Cheers,
Steve