HZR.ASX_Down Trendline and Range Breakout Trade_LongENTRY: 1.14
SL: 0.925
TP: 1.45
- ADX>20
- RSI<50,RSI<70
- Daily RS -ve
- Daily FFI +ve
- Daily MACD +ve
- Weekly RS +ve
- Weekly FFI +ve
- Weekly MACD +ve
- Change of Character with high volume on 11 Aug 2021.
- Breakout of down trendline and HVN (1.05) with high volume on 13 Aug 2021. Retraced in range with lower volume after that.
- Buyers coming in today.
- Would like a better closing today.
ASX
JHX @ 16 SEP 2021Text me if you have any questions/comments for me.
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JHX
- Previous analysis was done on 13 Sep - Suggested entry around 53.90 levels if believe the stock can create new all-time highs
- On 9 Sep, I suggested entry at 53.50 levels -> Today the stock closed almost 3% higher from the suggested entry
- The stock created new all-time high
- If you missed out the previously suggested entry, current price levels still present some buying opportunities
- R is less than 10%
- Strategy-to-buy (DYOR) – Suggest entry at current levels if believe stock can create new all-time highs
JAN @ 16 SEP 2021Text me if you have any questions/comments for me.
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JAN
- First time doing a written analysis on JAN
- Trend only started looking good in Dec 2020 -> has some sideways movement that can test the patience of some mid-term traders
- Has been testing the psychological resistance of $1
- Stock is overstretched and quite far from the short-term support
- R is borderline 10%
- Strategy-to-buy (DYOR) – Suggest breakout entry if comfortable with a potential sharp retracement
INR @ 16 SEP 2021Text me if you have any questions/comments for me.
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INR
- Previous analysis was done on 31 Aug -> suggested waiting for retracement and successful rebound before plotting entry
- Since then, the stock flew like a rocket
- Today, the rocket’s parachute didn’t deploy -> Stock dropped almost 19% with above average volume
- Today’s price action is nothing new as stocks that have gone up a lot usually will have a sudden and sharp price reversal
- There is no structure break as of today but there is definitely a tear
- If the stock continues to break to the to the mid-term support or even falls below the 50-cent psychological support, there is not much hope left for the stock
- R is more than 10%
- Strategy-to-buy (DYOR) – Suggest waiting for a successful rebound
CNI @ 16 SEP 2021Text me if you have any questions/comments for me.
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CNI
- First time doing a written analysis on CNI
- When I reviewed this on my livestream (5 Sep), I recommended to wait for a retracement to the short-term support and successful rebound before plotting an entry
- Since then, the stock has tested the short-term support
- Today’s price action like a successful rebound
- R is less than 10%
- Strategy-to-buy (DYOR) – Suggest entry at current levels if believe the stock is capable of creating new all-time highs
ACL @ 16 SEP 2021Text me if you have any questions/comments for me.
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ACL
- First time doing a written analysis on ACL
- Recently IPO-ed stock in mid-May – Has had some uptrends
- Had some obvious retracement around 4.60 levels
- Recently tested the short-term support and today, rebounded from there
- A successful rebound would see the stock rise above the resistance of 4.60 levels
- R is less than 10%
- Strategy-to-buy (DYOR) – Suggest waiting successful rebound before plotting entry
$JDRI camped out watching this for months then when it pumped i hadn't allocated the $$..
ANyways.. loks like an entry imho maybe. DYOR!
$BMN snaking up a rising wedge.A few moves left? It's opening at the MM target again! Can only come back??
Glad to see a structure to play with now, so its tradeable in my eyes.
Maybe this? Or could shoot even further up the shoot. But there is an apex there. WHether it explodes higher or what.. we have a scaffold to guide us.
LIC @ 15 Sep 2021LIC
- First time doing a written analysis on LIC
- Stock has a good history of uptrends
- 1st resistance (purple dotted line) – consolidated sideways for 4 months while still somewhat respecting the mid-term support
- 2nd resistance (blue line) – consolidated sideways for 1.5 months while still somewhat respecting the short-term line
- After breaking out, stock has had weak tests of the short-term support
- Today’s nice bullish pin bar after a strong test of the short-term support is accompanied by above average volume -> good
- After seeing today’s price action, I was tempted to get into the stock
- Unfortunately, there is no good setup for entry unless you use intraday strategies
- R is more than 10%
- Strategy-to-buy (DYOR) – Suggest waiting for a better setup for entry
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IGO @ 15 Sep 2021IGO
- Previous analysis was done on 10 Sep -> suggested waiting for successful breakout of counter-trendline
- Stock has gapped up above the counter-trendline (purple dotted line) 2 days in a row but both times disappointingly retraced back
- Potentially strong psychological resistance at $10 levels
- The stock could retrace back to test the trendline (blue dash line) before attempting to breakout again
- Stock could just fly tomorrow too
- R is more than 10%
- Strategy-to-buy (DYOR) – Suggest waiting for successful breakout of $10 psychological resistance
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AGL @ 15 SEP 2021AGL
- First time doing a written analysis on AGL
- Stock has been in a big downtrend since April 2017 -> a drop of almost 80%
- God bless the long-term investors as their capital is haemorrhaging
- In all 3 markets (Australia, Malaysia, and US), there was a big crash in stock prices in March 2020
- Most of the stocks have recovered to above pre-Covid crash levels
- AGL bucks the trend by creating new lows in August 2020
- Stock price has dropped more than 60% since that broken support
- Downtrend stocks have a lot of overhead resistances -> not conducive for a good mid-term uptrend to form
- Strategy-to-buy (DYOR) – There are other better stocks out there
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GLN @ 15 SEP 2021GLN
- Previous analysis was done on 6 Sep -> suggested waiting for the next rebound wave for a better setup for entry
- Stock gapped above the 1.09 resistance levels with above average volume
- Stock has been consolidating nicely on the $1 psychological support
- No good setup for entry
- R is more than 10%
- Strategy-to-buy (DYOR) – Suggest waiting for the next rebound wave for a better setup for entry
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NWF Olympic diver @ 15 SEP 2021NWF
- First time doing a written analysis on NWF
- Overall price action before mid-June isn’t attractive -> can signal to a lack of interest in the stock
- Low average volume -> Below 300k
- Low volatility uptrend with almost no pullbacks -> calm waters doesn’t mean there aren’t any crocodiles in them
Pros
- Since 2021, stock respects the moving averages
- Quiet uptrend -> usually signals a short-term uptrend
Cons
- I’m not comfortable with penny stocks (less than 50 cents in my book)
- Low daily average volume -> Price can move up/down suddenly if there is a huge purchase/selloff
Summary
- Yesterday’s retracement got me excited to see whether a successful rebound will happen
- Today’s gap down and crash below the two previously respected moving average supports is too drastic. Almost as if the supports didn’t exist
- In hindsight, the quiet uptrend looks like investors getting excited about the corporate action
- Strategy-to-buy (DYOR) – Suggest waiting for a series of Higher Highs (HHs) and Higher Lows (HLs)
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CXL Rocket @ 15 SEP 2021CXL
- First time doing a written analysis on CXL
- Since IPO, $1 levels were a resistance until Nov 2020 (purple dotted line) when it turned into a support.
- R1 resistance – Sideways for more than 2 months
- R2 resistance – Sideways for 2 months
- R3 resistance – Sideways for more than 2 months
- R4 resistance – Sideways for 1.5 months
- R5 resistance – Sideways for 1 week before testing short-term support
- Today, it strapped rockets and never looked back
Pros
- Stock respects the short-term support a lot
- After testing the mid-term support, it usually breaks out from the overhead resistance after a few days
Cons
- Holding this stock would require a lot of patience as it take a couple of months of twiddling your thumbs before it breaks out
- Low daily average volume -> Below 500k shares
Summary
- Yesterday’s test of the short-term support got me excited as this is the kind of rebound entries that I trade -> The setup for a rebound trade would have a borderline 10% risk
- I’m not a patient person to wait a few weeks for my stocks to move; thus, I didn’t get in -> Hindsight is 20/20 of course
- No good setup for entry unless you use intraday strategies
- R is more than 10%
- Strategy-to-buy (DYOR) – Suggest waiting for retracement and successful rebound
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XRF @ 14 SEP 2021XRF
- Previous analysis was done on 30 Aug -> suggested entry at 0.54 levels if believe the stock can create new highs
- Today, the stock closed almost 11% since the suggested entry
- If you missed the suggested entry, current price is no longer suitable for entry
- Price is currently too far from the short-term support
- R is more than 10%
- Strategy-to-buy (DYOR) – Suggest waiting for stock to retrace and rebound successfully
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