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ASX

LKE @ 14 OCT 2021Text me if you have any questions/comments for me. ----- LKE - First time doing a written analysis on LKE - Doesn’t have much a history of long and steady uptrends - Any strong upwards movement lasts for a few short weeks with strong volume before momentum peters out - Not usually a trend that would attract trend followers - Resistance zone has formed around the 65 cents level (purple dash line) - Stock doesn’t respect the short-term support, but the mid-term support is proving to be stronger - R is more than 10% - Strategy-to-buy (DYOR) – Suggest waiting for a successful rebound before plotting entry
ASX:LKE
by Jerm88
5
GOW @ 14 OCT 2021Text me if you have any questions/comments for me. ----- GOW - First time doing a written analysis on GOW - Has a history of both uptrends and downtrends - Strong resistance zone at 3.40-3.60 levels - Stock has had a quiet uptrend since mid-March 2021 and looks to be respecting the short-term support - Stock is consolidating sideways with a welcomed test of the short-term support - Successful rebound looks to be around 3.15 levels - R is less than 10% - Strategy-to-buy (DYOR) – Suggest waiting for a successful rebound before plotting entry and if comfortable with the overhead resistance zone
G
by Jerm88
BST @ 14 Oct 2021Text me if you have any questions/comments for me. ----- BST - Previous analysis was done on 12 Oct - Suggested waiting for a retracement and a successful rebound - Since then, the stock has retraced to the short-term support and today, it gapped up - A successful rebound is around 3.42 levels - A resistance level looks to have formed at 3.45 levels - An entry around 3.42 levels can be considered as a pre-breakout entry - To manage risk, can consider half-position entry on pre-breakout and remaining half position after successful breakout of resistance - R is less than 10% - Strategy-to-buy (DYOR) – Suggest waiting for a successful rebound before plotting half-position entry
B
by Jerm88
SWP @ 12 OCT 2021Text me if you have any questions/comments for me. ----- SWP - First time doing a written analysis on SWP - Has a history of nice uptrends with retracements to the short-term support - Stock can be quite volatile and may not fit the risk appetite of some traders/investors - After creating new all-time high, the stock retraced more than 20% to close below the short-term support - Since then, a Lower High has been formed -> it’s quite common for LHs to be formed after a strong retracement - Rebound will be successful if the stock can recover to 2.20 levels - R is more than 10% - Strategy-to-buy (DYOR) – Suggest waiting for a successful rebound and a better setup for entry
S
by Jerm88
RDY @ 12 OCT 2021Text me if you have any questions/comments for me. ----- RDY - Previous analysis was done on 6 Oct -> suggested waiting for successful rebound at around 3.50 levels before plotting entry - Since then, the stock has nicely rebounded to form a doji today at 3.50 - The strong volume on 8 Oct bodes well for the short-term momentum of the stock - R is less than 10% - Strategy-to-buy (DYOR) – Suggest entry at current levels if believe the stock is capable of forming new all-time highs
R
by Jerm88
CSL @ 12 OCT 2021Text me if you have any questions/comments for me. ----- CSL - Previous analysis was done on 27 Sep -> suggested half entry around 310 levels if comfortable with overhead resistance zone - Since then, the stock did not recover to those levels but instead had a Structure Break - Stock is currently consolidating between the 295 resistance levels and 285 support levels - Any further break of support could see the stock fall towards the 275 low created in July 2021 - Strategy-to-buy (DYOR) – Suggest looking at other stocks as the current trend is not conducive for trend followers
ASX:CSL
by Jerm88
3
BST @ 12 OCT 2021Text me if you have any questions/comments for me. ----- BST - Previous analysis was done on 6 Oct - Suggested waiting for a successful rebound at 3.30 levels before plotting entry - Since then, the stock has created a new all-time high and looks to be hinting at a potential resistance level around 3.45 levels - If you have entered at the recommended entry, you would have experienced gains of more than 3% in less than a week -> Decent gains albeit not life changing - Current price level is no longer a good setup for entry - R is more than 10% - Strategy-to-buy (DYOR) – Suggest waiting for a retracement and a successful rebound
B
by Jerm88
AMS @ 12 OCT 2021Text me if you have any questions/comments for me. ----- AMS - First time doing a written analysis on AMS - Has a history of sharp uptrends and steady retracements - There was a long sideways movement that lasted more than 7 months (purple shaded area) - Strong resistance at 1.80 levels (purple dotted line) that was created in Sep 2019 - Recent LHs have created a counter-trendline (blue dash line) - A successful breakout with above average volume could present a buying opportunity - R is borderline 10% - Strategy-to-buy (DYOR) – Suggest waiting for successful breakout of counter-trendline before plotting entry especially if comfortable with overhead strong resistance
ASX:AMS
by Jerm88
ASX 200 @ 12 OCT 2021Text me if you have any questions/comments for me. ----- 12 Oct 2021 – Market Watch The last time I did an analysis on the S&P/ASX 200 was on 5 October (red arrow). Since then, the ASX 200 has recovered less than 0.5%. It is currently testing the counter-trendline (purple dotted line). A failure to breakout would likely see another retracement to the 7200 psychological support. Further overhead resistance looks to be around the 7360-7400 levels. Last week, I mentioned that I would be more willing to trim positions rather than add new ones especially if there is no good recovery in the markets. At that time, I was exploring 1 or 2 buying opportunities but instead, I entered 3 stocks that have given me gains of up to 4%. Besides the purchases in Australia, I was also adding 3 new stocks into my US portfolio and 1 new stock into my Malaysia portfolio. Why did I suddenly become bullish when I am naturally quite conservative? As explained during last Sunday’s FB livestream, I was quite happy with the news that the US debt ceiling crises has been averted for now. The US government has kicked the can down the road to early December 2021. This should calm the markets for the next few weeks before the political rhetoric heightens again towards the end of November. The US employment figures that came out last Friday disappointed the market and points to a slowing down of job creation. The combined number of jobs created in August and September were less than 50% of the target of 1 million jobs. I have a strange feeling this would temper the FOMC’s hawkish stance and they might even elect to postpone making an announcement on tapering bonds next month. If my gut feeling is correct, this would place a lot of pressure on the tapering announcement to be made in December’s FOMC meeting. Couple this with the debt ceiling crises that will no doubt loom large again, I expect that these twin risk events will create a lot of uncertainties in the markets. When the US sneezes, the whole world gets lung cancer. I don’t think we will be spared here in Australia if there is a retracement in the US. As I mentioned previously, I still expect that a strong retracement will place in Australia over the next 2-3 months. With all that doom and gloom, why did I enter new positions? Personally, I used the previous retracement (in late Sep and early Oct) to find stocks that were outperforming the market. Usually, when the market recovers, these stocks will tend to outperform the market and recover at a faster pace. Besides that, with most of the uncertainties coming in early December, I expect the markets to experience a mini bull run at least over the next few weeks. With that said, I am still trigger happy and I will cut my positions in a heartbeat if the markets turn against me. How about you? Have you entered new positions? Or are you looking to sell some old positions for a quick profit (or lower loss)?
ASX:XJO
by Jerm88
6
NST Go Up or Down to $6.25 range!I am not confident that ASX:NST would continue or form a up trend from here. considering development in gold, I think NST can potentially go further down if it does't go up from here down to $6.25 range. Please join my Slack Channel to form active traders community to analyse and discuss trading ideas, thanks: join.slack.com Please note these are my own notes, by no means trading advice. Please do your own research before entering into any trade.
ASX:NSTShort
by AsimMirzaTrader
3
Z1P - Could provide a buying Opportunity!Z1P is showing signs that it has found supportt at the trendline Support coupled with High Volume. This indicates buying interest at current level of $7.00. I think that if Z1P manages to close above $7.00 which is also the POC of Volume Profile, for two more days, it could move higher towards its next Resistance level of $8.45. Please note these are my own notes, by no means trading advice. Please do your own research before entering into any trade.
ASX:ZIPLong
by AsimMirzaTrader
CSL - Are the Bulls Entering at Support@As we can see that the Support Zone of $268.00 - $274.00 has been strong because it got bounced off in the end of July 2020, and price made a high of $320.00 then. Now that CSL was plunging, the same support has held very well and we can see the downtrend line violated, with a Bullish Candle closing above it, with High Volume. MACD has also crossed and RSI has come out of the Oversold region, indicating that the Bullls have taken control and want to take it higher. My targets are as follows: 1. TP1 is $287.00 - $290.00 region (Resistance 1) (4% - 5% potential) 2. TP2 is $298.00 - $300.00 region (Resistance 2) (8% - 9% potential) Please note these are my own notes, by no means trading advice. Please do your own research before entering into any trade.
ASX:CSLLong
by AsimMirzaTrader