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Allordinaries

$EHL $EHL.ASX its shaping and may go higher from here$EHL $EHL.ASX its shaping and may go higher from here Added to Watch list Emeco grows on diversification Emeco Holdings (ASX: EHL) increased its 2020 financial year revenue 16 per cent to $540m, and boosted its net profit 39 per cent to $87.5m, it said in its results presentation. “Iron ore revenue more than tripled and gold revenue more than doubled,” said the company, which is seeking to diversify its business that was mostly focused on coal. Coal mining companies provided 49 per cent of Emeco’s group revenue in the June quarter, down from 65 per cent in the 2019 financial year, it said. Growth for Emeco is coming through new iron ore and gold projects in WA to replace legacy mines, while in eastern Australia customers are looking for cost effective services amid lower coal prices. The company recently expanded its range of services with the acquisition of WA-based underground mining equipment provider Pit N Portal and is using data analytics to increase equipment efficiency.
ASX:EHLLong
by Abbas39
$MAH $MAH.ASX that Volume trying to say something$MAH $MAH.ASX that Volume Macmahon Holdings Limited (MAH) is an Australian company providing mining services to clients throughout Australia, New Zealand, South East Asia and Africa. Mining services range from mine development to materials delivery, design, construction and on-site services for mining companies, across a variety of base and precious metals and commodities. MAH provides surface mining, underground mining, engineering, and plant and maintenance.
ASX:MAHLong
by Abbas39
XAO - All Ordinaries - Bull Flag - Gold UpdateQuick update on XAO and the broader Aussie market. It seems that insanity is the path of least resistance and the major index is set to target the 61.8% fib level, around the 6,200 level. This measured move higher from the bull flag would als coincide with the 61.8% fib level. The combined 'big 4 banks' are also signaling that a potential move higher is on the cards, with a measured breakout from a symmetrical triangle pitched at the 50% fib retracement. I am also watching Aussie gold, looking for a pullback closer to the 2,500 price range. Although in fairness, an entry even at these levels would still be quite a nice initial entry point on the yellow metal, with the vast global QE efforts to reinflate global equity markets set to lead to higher inflation (or even just perceived higher inflation). Overall the Aussie equity markets look set to move higher, gold looks set to move slightly lower/ sideways and the real economy still looks battered and bruised. I am still on the lookout for the inevitable 2nd leg lower, but i am also keenly aware that throwing money at a short trade is not the best course of action in the face of global efforts to reflate the markets. -TradingEdge
ASX:XAO
by Profit_Link
Gold/AUD - Pullback - Buying Opportunity? I usually get quite frustrated with the Wall Street idiom of "buy the dip" what amounts to the gross over simplification of an entire field of study to "buy when big line go down" is quite annoying. That being said... When i see Gold prices dropping in the current financial and economic climate, YES please! I'll buy that dip all day long As you can see from the chart below, we have a very nice weekly MACD cross, this has historically been quite a nice sign of a decent pullback in our future, usually to the 21 ema as a minimum. Furthermore, the weekly RSI is also showing signs of weakening momentum, with the typical pullback landing Gold within the $2,400-$2,500 range, as minimum. That being said, Aussie stocks are looking a little long in the tooth, with the all ordinaries hitting the resistance i outlines several weeks ago, and while there is still some room to move higher, and in fact we are in a near-term uptrend barring a close below the 5,200 mark, i am expecting the equity markets to continue to deteriorate over the coming weeks and months. Even as the Aussie economy does begin to 'reopen' and loosen certain restrictions, that will amount to very little, as Australia is still predominantly a resource based economy, reliant on exports of minerals and raw materials. The economy's struggles will be exacerbated with the damage to oil prices, and any real recovery will be out of the question until trade begins to resume. So the equity markets are suggesting HIGHER gold prices, and the gold charts are suggesting a possible pullback (confirmed with a weekly close below the 9ema). With the global economy still in tatters and as the world slowly begins to awaken to this fact, Gold looks very likely to catch a bid. Therefore, any dip within gold is one that i am more than happy to follow that oh so simple idiom of "buy the dip" -TradingEdge
OANDA:XAUAUDShort
by Profit_Link