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ASX

ASX200 support remains from 6910Hi all, this morning, it's hard not to notice 6910 support on the ASX200 daily chart. Sellers once again breached the level but have again been unable to hold the break with buying developing in today's cash session. We see this level as key support as it has held firm since April 2021. Green circles show the amount of times sellers have been unable to break the level since April. Interestingly, we've seen four moves higher after a level test. Today's idea is not a buy or a sell, it's more of a heads up. We will be watching this level to see if any further ideas develop.
EIGHTCAP:ASX200
by Eightcap
FLT:ASX The current situationA friend owns FLT . He was looking for some information as to whether he should hold (without disclosing his entry price), so here's my explanation. Note : It makes it a lot easier to 'tell someone whether they should hold or sell' if I know the entry price. Why? Because trading profitably is about consistently cutting your losses quickly, and holding on to (or even doubling down during a pull back buy opportunity) your winners. If you do just that right, you can win with a very low ratio (E.g. Picking only 40% calls, correctly etc.) The case for: FLT's price is currently above it's 55 EMA (my favourite EMA to use - see orange line), and we're talking MONTHLY EMA. It's also just breaking out, and holding (so far) above the downwards trend line. Furthermore, during this blood bath going on (for many many stocks, ASX or not), it's holding above it's upward diagonal trend line. If you look at the 55 Monthly EMA, and both trend lines mentioned above, you'll notice that as long as the price holds above ~$17.60 approximately, it's still a HOLD (if in already). Would I be actively buying here? Depends. If there's nothing else to buy, maybe take a small pilot position here, however given the VIX is peaking and the entire market is a bit crazy, it's hard to tell. Fibonacci levels* = DEF do not hold under $16.00. High risk of strong support there that, if breached? GNITE Some questions (and risks) to fundamentally consider: Could there be further international lockdowns? This would be bad (unless FLT focuses on local and domestic travel, which may be allowed) Petrol prices' effects on flights and operating costs? If Ukraine/ Russia war continues, as well as other issues, and petrol keeps going up = this could be bad Recession risk? If people are losing jobs (Carvana for example, even though the car market is ridiculous = can't get stock. So what do they do? Lay off people and buy online auction platform.**) they're less likely to take holidays for obvious reasons. *Fibonacci levels drawn, using 'all time high' price and 'all time low' price (this is how I draw my fibonacci levels - they stay objective this way, and are applicable whether you're looking at a normal chart or log chart - so that's good!) **This is why I refused to sell EVAuctions and other car domain names I own btw (for anyone who knows me and is reading this LOL). I saw this coming. Thanks for reading! [ Tendie.com coming soon ]
ASX:FLT
by wedembois
ASX shows high chance movement show - Loading- AXS shows movement volume into small range trading - 2 Targets for AXS - $55 and $69 Breakout chance 77% Increase peroxide 1-30 days Why increase? - ASX shows volume movement since 18-04-2022 with good technical signals for an increase - The 45-46 is- high point for further increase depending on historical trend at 14-03-2022 that did bring ASX to 72 USD - Volume indicators and flow trading ways show breakout trends activity. The above models are the expecting frames, which means there is no guarantee it will happen 100% It's important to study all-time you trades well before entering any market. It's always important to check the markets on all sides - markets can change all time.
Long
by Goldenbreakout
3