Nice breakout $SGM #SGM. Consolidation, good washout and retestGood consolidation period for $SGM, good washout and retest.
Steel price remains strong. I am hoping for a better than expected result in Feb 2022. I currently hold a long position.
SGM trade ideas
SGM looking to continue its positive momentumSGM Looking to either retest the lower trend line or push back up past Jan highs to resume upward momentum. Looking for a nice entry in the red circle if we see a retest.
Entry: 13.52 - 14.28
Stop: 12.26
Target: 15.68
Timeframe: 1-3 weeks
SGM.ASX_LongENTRY: 13.30
TP: 14.63
SL: 12.67
- ADX>25
- RSI>70
- MAs are aligned
- FFI and RSI +ve
- Break-up with good volume
rising wedge formingwhat a run I followed this thing from $10.50 but I think we're going to come back to the black channel for support soon
