TPW trade ideas
TPW.ASX_Bearish Pullback Trade_ShortENTRY: 3.29
SL: 3.89
TP1: 2.60
TP2: 1.90
- ADX>25
- Daily RS -ve
- Daily FFI +ve
- Weekly RS -ve
- Weekly FFI -ve
- Moving averages are aligned.
- Breakdown on 7 Jun 2022 and moved down followed by a pullback to near support-turn-resistance area (4.09) before moving down again.
- Entry based on today >3% rebound off 10EMA with volume .
TPW - Medium term Bearish Trend ConfirmationBearish Trend Confirmation Indications:
1. The trend has got weak on the weekly and Monthly with Bearish Engulfing Candles and High Volume
2. The price has formed a lower Highs and a lower Lows on the Daily which is confirmation of a bearish trend
3. The down move was a powerful and impulsive wave
I expect price to retrace on the upside, and I expect price to get weak at or near (Resistance Zone between $10.50 - $11.00 level), where sellers may attempt to dump the stock. I expect price to get weak. The ideal level and extremely Strong Support Zone is between $6.50 - $8.00, but it is not necessary that price may drop all the way down to $6.40. There may be little swings on the way down but will have to see where TPW finds strong support. I would be a confident buyer at that strong support level for a long term position.
Please note these are my own notes, by no means trading advice. Please do your own research before entering into any trade.
$TPW:ASX - TEMPLE & WEBSTER - Up 200% since AprilAnother Aussie dot com retailer with a share price going through the roof. Up 200% over the last few months, it is still a sub $10 stock so psychologically at least could still have quite a bit of upside. Might be a bit expensive at the moment, but certainly worth a watch. Temple & Webster is Australia's Number 1 online retailer of furniture and home wares that offers more than 180,000 products and a subscriber base of more than 1 million Australians.
TPW | ATH BO | Buy on breakoutENTRY: Intraday buy because I can see that the price is already breaking in and out the ATH. My bias is that it will close above the ATH and it deed. The buy candle is the highest candle in the box or consolidation.
TP: Resistances - Box breakdown, RSI, MA breakdown
SL: ATH breakdown.
BAD: No momentum even though it is already ATH and forming HH so far. Holdingfor 9 days now with just 5% gain.