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Asx200

AGL - Trade PlanAGL looks like it has broken out of its long term downtrend and is expected to head higher. The break of the Bearish trendline coupled with High Volume and huge MACD Bullish Divergence confirms that it is expected to move higher. I am bullish AGL with a target of $10.70 and it may even go much higher towards the strong Resistance level of $12.00. Please note these are my own notes, by no means trading advice. Please do your own research before entering into any trade.
ASX:AGLLong
by AsimMirzaTrader
SM1 - Possible Change in trend?SM1 had been falling real hard until recently the price action showing that the Bulls may have stepped in. The break of the down trendline coupled with High Volume may be a sign that there has been a possible change in trend. There is also Bullish Divergence in MACD which makes me a Bull. Any retracement lower may be a very good buying opportunity with an initial target of $3.80. I would be watching price and wait for it to get into my Buy Zone of $2.85 - $3.05. Please note these are my own notes, by no means trading advice. Please do your own research before entering into any trade.
ASX:SM1Long
by AsimMirzaTrader
A2M - Has the Bearish trend changed finally?A2M had been falling in a strong downtrend until recently when it managed to break its downtrend line with very high volume. This price action suggests that the Bulls may have stepped in finally and want to take price higher. It could consolidate for a while before taking off. I am bullish A2M and targeting the recent Resistance level of $7.80 which could provide a potential 30% gain on the trade. Please note these are my own notes, by no means trading advice. Please do your own research before entering into any trade.
ASX:A2MLong
by AsimMirzaTrader
1
Bapcor - Ascending Triangle 20% UPSIDETechnically Bap looks to have 20% upside. Plus solid fundamentals to add to the story. Key Technicals - looking to buy on breakout of ascending triangle with above average volume. Or throw back of breakout. Key Fundamentals - Growth internationally (TYE SOON aquisition) + New & used car demand remains strong, we are moving around differently than pre covid. Note: Commbanks household spending intentions series suggests the wealth effect from rising dwellings should be bulllish for motor vehicles moving forward. With that in mind, i'm watching closely, particularly, the BAP investor day that was postponned from june to July. We may see a BAP upgrade at some point much like BKW who had/has a very similar chart and is benefiting from the same sort of economic tail winds. www.commbank.com.au
ASX:BAPLong
by rutt
Z1P - Trade PlanZ1P has been consolidating for a while at the lows and now the price action suggests that it may be preparing itself to move higher, as we can see that the Bearish Trendline has broken with High Volume. I am bullish Z1P with my trade plan mentioned below: TP - Next Resistance Level of $8.40 (potential 17% profit) Stoploss - Below the recent Swing Low at $6.20 Please note these are my own notes, by no means trading advice. Please do your own research before entering into any trade.
ASX:ZIPLong
by AsimMirzaTrader
3
ASX:HUM back on my radars with potential good mood humm🎁🙌🎁ASX:HUM has been in a bear market for last few months after hitting the 1.36$ apogee, it plummeted to the abyss losing almost 30% of the recent high value. But there are signs hidden into the charts that shows it may be ready for another explosive move to the upside. Lets dive right to the technical analysis. This stock has managed to extricate itself from the range 0.950 to 1.025$ which in my opinion was rather bearish than bullish and since then it has shown sign of strength, where it is attempting to break the 1.1$ levels. Escaping that range was followed by high volume as you can see on the chart. The stock is above both 50MA and 200MA and its PSAR is on the bullish side. Also looking at the chart pattern from early April 2021, it looks like a cup without a handle, and I am looking for price to break above the 1.1$ to scale my position. On the target side, first target is 1.16$ which corresponds to the golden fib level of the retracement from recent highs to recent lows. After that I will have my eyes to the 1.2$ I will keep you posted of any change on this stock and if any weakness is found I will let you know. In meantime, as a service request from you, please share these TA charts with your friends and tell them to follow me. I am working on many more charts to share with you not only in stocks but also in crypto. Stay in touch. XTF.
ASX:HUMLong
by xtf_ze_trader
1
ASX 200 STRONG CASE FOR A PERFECT WYCKOFF METHOD SETUP The ASX 200 has been setup and going through the perfect Wyckoff setup over the past month. Now that we have hit all time high's, its clear that the demand or the BULLS are in full control and that shakeouts will be shortlived. Now that we don't have any ceiling the sky is the limit in at least the short / medium term. Just have a look at the explanation and leave comments whether you agree we are in phase E? Phase A: Phase A marks the stopping of the prior downtrend. Up to this point, supply has been dominant. The approaching diminution of supply is evidenced in preliminary support (PS) and a selling climax ( SC ). These events are often very obvious on bar charts, where widening spread and heavy volume depict the transfer of huge numbers of shares from the public to large professional interests. Once these intense selling pressures have been relieved, an automatic rally (AR), consisting of both institutional demand for shares as well as short-covering, typically ensues. A successful secondary test (ST) in the area of the SC will show less selling than previously and a narrowing of spread and decreased volume , generally stopping at or above the same price level as the SC . If the ST goes lower than that of the SC , one can anticipate either new lows or prolonged consolidation. The lows of the SC and the ST and the high of the AR set the boundaries of the TR . Horizontal lines may be drawn to help focus attention on market behavior, as seen in the two Accumulation Schematics above. Sometimes the downtrend may end less dramatically, without climactic price and volume action. In general, however, it is preferable to see the PS, SC , AR and ST, as these provide not only a more distinct charting landscape but a clear indication that large operators have definitively initiated accumulation. In a re-accumulation TR (which occurs during a longer-term uptrend), the points representing PS, SC and ST are not evident in Phase A. Rather, in such cases, Phase A resembles that more typically seen in distribution (see below). Phases B-E generally have a shorter duration and smaller amplitude than, but are ultimately similar to, those in the primary accumulation base. Phase B: In Wyckoffian analysis, Phase B serves the function of “building a cause” for a new uptrend (see Wyckoff Law #2 – “Cause and Effect”). In Phase B, institutions and large professional interests are accumulating relatively low-priced inventory in anticipation of the next markup. The process of institutional accumulation may take a long time (sometimes a year or more) and involves purchasing shares at lower prices and checking advances in price with short sales. There are usually multiple STs during Phase B, as well as upthrust-type actions at the upper end of the TR . Overall, the large interests are net buyers of shares as the TR evolves, with the goal of acquiring as much of the remaining floating supply as possible. Institutional buying and selling imparts the characteristic up-and-down price action of the trading range. Early on in Phase B, the price swings tend to be wide and accompanied by high volume . As the professionals absorb the supply, however, the volume on downswings within the TR tends to diminish. When it appears that supply is likely to have been exhausted, the stock is ready for Phase C. Phase C: It is in Phase C that the stock price goes through a decisive test of the remaining supply, allowing the “smart money” operators to ascertain whether the stock is ready to be marked up. As noted above, a spring is a price move below the support level of the TR (established in Phases A and B) that quickly reverses and moves back into the TR . It is an example of a bear trap because the drop below support appears to signal resumption of the downtrend. In reality, though, this marks the beginning of a new uptrend, trapping the late sellers (bears). In Wyckoff's method, a successful test of supply represented by a spring (or a shakeout) provides a high-probability trading opportunity. A low-volume spring (or a low-volume test of a shakeout) indicates that the stock is likely to be ready to move up, so this is a good time to initiate at least a partial long position. The appearance of a SOS shortly after a spring or shakeout validates the analysis. As noted in Accumulation Schematic #2, however, the testing of supply can occur higher up in the TR without a spring or shakeout; when this occurs, the identification of Phase C can be challenging. Phase D: If we are correct in our analysis, what should follow is the consistent dominance of demand over supply. This is evidenced by a pattern of advances (SOSs) on widening price spreads and increasing volume , as well as reactions (LPSs) on smaller spreads and diminished volumes. During Phase D, the price will move at least to the top of the TR . LPSs in this phase are generally excellent places to initiate or add to profitable long positions. Phase E: In Phase E, the stock leaves the TR , demand is in full control and the markup is obvious to everyone. Setbacks, such as shakeouts and more typical reactions, are usually short-lived. New, higher-level TRs comprising both profit-taking and acquisition of additional shares (“re-accumulation”) by large operators can occur at any point in Phase E. These TRs are sometimes called “stepping stones” on the way to even higher price targets.
FX:AUS200Long
by ThinkNumbers
CIM - Change in TrendCIM seems it has changed its intermediate trend and is expected to move higher in the medium term. It has broken its intermediate downtrend line and shown strong price action to the upside. I think it has changed its trend but finding resistance in the current zone around $21.00. It may retrace lower towards the buy zone between $19.00 - $19.60 to give a higher low and move higher. I will be watching price action in the buy zone to target the above levels. My trade plan will be as follows: TP1 - $21.50 TP2 - $23.40 Stoploss will be below the low of this new swing. Please note these are my own notes, by no means trading advice. Please do your own research before entering into any trade.
CLong
by AsimMirzaTrader
DRR - Could be backtesting to go up.DRR has broken out of its downtrend and the recent pullback lower could be a backtest of its downtrendline. It has been consolidating and holding well at the current zone of $4.15 - $4.30, and I expect that it should continue higher from the current levels. We could see a bit more consolidation before it heads higher. MACD histogram shows that Bearish momentum may have slowed. I will be a buyer once it shows strong bullish price action. My trade plan will be as follows: TP1 - $4.77 (potential 12%) TP2 - $5.03 (potential 18%) Stoploss will be below the consolidation zone Please note these are my own notes, by no means trading advice. Please do your own research before entering into any trade.
ASX:DRRLong
by AsimMirzaTrader
IPL - Has it found Support?IPL has been in a nice uptrend making higher highs and higher lows. It has pulled back at the lower end of the parallel channel and showing signs of supportive price action. We may see a bounce off this support level of $2.20 - $2.35 zone for added confirmation that bulls may be taking over and take it higher. MACD is also about to cross which may be a sign that the selling pressure is coming to an end. Once bullish price action is confirmed, my target would be between $2.50 - $2.60 zone which could be a zone of resistance. Please note these are my own notes, by no means trading advice. Please do your own research before entering into any trade.
ASX:IPLLong
by AsimMirzaTrader
Normal correction ahead for ANZANZ is moving in a 5 wave pattern and have already completed Wave 3. Now it is heading for correction wave 4. Once it reaches point A on the chart, we will see an bit of uptrend where it will meet point B. Post point B, it will continue its journey south If you like my analysis then do drop a LIKE and a COMMENT. Also do SHARE it with your friends. Also don't forget to smash that FOLLOW button to get daily analysis of multiple crypto currencies and sometime ASX stocks. Note - These are my personal notes and in no way a financial advice. Do your own research and Trade wisely
ASX:ANZ
by Manjyot
AMPOL to DIP to 26.06 in coming daysOn a 2 hour chart, AMPOL is moving in 5 wave pattern, with Wave 3 completed as displayed on the chart. From here it should drop to 26.06 where it will meet daily support, before bouncing up to 31-32 zone. Expect a major drop once it reaches point 5. I will create new analysis once it is close to wave 5. If you like my analysis then do drop a LIKE and a COMMENT. Also do SHARE it with your friends. Also don't forget to smash that FOLLOW button to get daily analysis of multiple crypto currencies and sometime ASX stocks. Note - These are my personal notes and in no way a financial advice. Do your own research and Trade wisely
ASX:ALDShort
by Manjyot
OSH - Pullback in progressOSH has rallied nicely due to increase in Oil prices but now it is pulling back. It was unable to continue higher and now I am expecting it to reach my Buy Zone around $3.20, which is also trendline Support and POC of Volume profile. I shall monitor when price reaches my Buy Zone between $3.00 - $3.20, where I would take long positions after Bullish Price Action. Please note these are my own notes, by no means trading advice. Please do your own research before entering into any trade.
OLong
by AsimMirzaTrader
FMG - Road MapFMG had been in a very nice uptrend in 2020, but the recent price action of Lower Highs and Lower Lows suggest that the trend may have weakened and it may find resistance between $24.00 and $25.00 level, and head lower. I think we may see a decent retracement lower ideally between the 50% and 61.8% Fib Retracement, between $14.00 and $15.50. I would be cautious at the current levels and wait for a pullback to enter a buy position. Please note these are my own notes for future reference, by no means trading advise to anyone. Please do your own research before entering into any trade.
ASX:FMGShort
by AsimMirzaTrader
1
ASX/200 - NOW IS THE TIME TO BUY AUSTRALIA'S STOCK MARKET INDEX Fundamentals Now is the best time to buy Australia's stock market index, as Australian companies exporting commodities to the rest of the world during the recent commodity boom, is pushing up the share prices of the biggest mining companies within the country and pushing up the index!!! Mining companies are seeing their share prices rise due to the booming commodity demand from the re-opening of the global economy as the vaccination rollout is pushed forward, alongside the commodity and precious metals demand for the transition into clean energy. Commodities Australia’s commodity export economy is reliant on export demand, especially from China. Therefore with strong global economic growth expectations from fiscal and monetary stimulus, Demand will be strong for Australian exporters, along with Domestic growth, supporting Australian equities. Key Economic Data To Watch Chinese & U.S Manufacturing PMI Correlation - S&P500 & ASX/200 Historically move closely together. Technicals A breakout above the recent high 7175 would be another opportunity to enter a long buy position. Risk Management ATR Volatility Stop Loss: 13.00% Risk/Reward Ratio | 3:1 Stop Loss Area: 6188 (925points) Take Profit: 9301 (2,191points)
ASX:XJOLong
by KayansMarkets
2