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Asx200

APX - Seems that it has found SupportSince the March 2020 lows of around $15.00 to the Highs of $43.60 recorded in late August 2020, we have witnessed weakness in price value, but I think that APX has now found good Support at around $22.00 level, which is also 78.6% Fibonacci Retracement. I think that we may see some Consolidation (Accumulation) or a rise in price above the mentioned Support Level of $22.00, imminently. MACD has crossed, indicating a decrease in Bearish Momentum and RSI bouncing off the Oversold region which also suggests that Buyers have found value at these current levels and we may witness a bounce in price soon. My Initial Target for the trade will be the next Resistance Zone between $31.00 - $32.00. Please note these are my own notes, by no means trading advice. Please do your own research before entering into any trade.
ASX:APXLong
by AsimMirzaTrader
LLC - Pulling Back to SupportLLC seems to be pulling back nicely to the trendline Support at around $11.70, as it has shown strength previously also and made a Higher High. We can also see that it has made a Golden Cross, with RSI in the Oversold region. The High Profile Volume Zone also lies at around $11.40, so it seems that the range between $11.40 - $11.80 should provide good support, and I expect a bounce off soon. If it does bounce off, we can expect it to go towards the previous highs giving a potential return of 14% at TP1 and 25% at TP2. Please note these are my own notes, for my future reference only. By no means trading advise to anyone. Please do your own research before entering into any trade.
ASX:LLCLong
by AsimMirzaTrader
Where to from here for the ASX200Is the pullback today the start of something more sinister or just another flush lower to clear out some of the weak hands before having a run on new highs. We can see that the momentum is fading as we run up into previous highs but we have seen this action prior to making new all time highs that start of last year. For now, the 6585 area is key to hold to support the bulls. We will see in the follow few sessions whether the market is flushing lows prior to a run at highs or whether there is more downside to come. ------------------------------------------------------------- WE TRADE WHAT WE TEACH Check out our recent Live Streams from our profile page!! ------------------------------------------------------------- ** If you enjoy our free content, please support and follow our profile, by hitting the Follow button to get further high quality ideas. ** ** If you are following our ideas any comments and likes are most welcome and will be greatly appreciated ** ** With quality alerts and correct Risk Management, you can learn consistency and grow your account ** ** With quality portfolio management and defined risk levels to help your account grow and achieve steady profit targets while increasing your trading edge. **
ASX:XJO
by TradeTheStructure
OZL - Any Retracement Lower could be a Buying OpportunityOZL has shown an impressive rally since the end of March 2020, and I believe the trend has changed and OZL will advance further up and we may see much higher prices in the days to come. Nothing goes up in a straight line, so since price have been moving up we have not seen a decent retracement, so I believe any retracement lower could be a good Buying Opportunity. We might see some kind of profit taking as the RSI reading is in the Overbought region, so any pulback lower ideally in the Buy Zone between $11.90 - $13.60 range could be a great Buying opportunity. Please note these are my own notes, by no means trading advice. Please do your own research before entering into any trade.
OShort
by AsimMirzaTrader
2
ALL - Will it Pullback?After almost a 60% plunge in March 2020, due to the pandemic, ALL was well supported but still we could not get back to the pre-Covid levels up till now, and observing such Price Acton (Bearish Rejection Candles) on the Monthly Chart, I think that it is being rejected. I believe that its best not to FOMO and be mindful of the fact that it may be giving hints of some kind of weakness in Momentum and thi could lead to a decline in price value. I believe that its overbought at these levels and it would be best to see it pulling back towards the Fib Retracement Zone of 50% - 61.8% between $15.00 - $20.00 which has been a significant level in the past, which was Resistance and later turned into Support and also the Base Trendline level (Confluence). Please note these are my own notes for future reference, by no means trading advise for anyone. Please do your own research before entering into any trade.
ASX:ALLShort
by AsimMirzaTrader
XRO - Will the rally continue?XRO has been in its parabolic rise but will it continue further up. XRO has catapulted straight up in a straight line since a few years and any asset exhibiting such a parabolic move may often be followed by a sharp decline in price value. XRO has so far got rejected in the month of January 2021, at around $155.00 and currently trading at $136.00. Could it be the start of a decline in its price value? The Monthly RSI value is 77.58 and the Weekly RSI is now at 64 after being extremely overbought and cooling off after giving a reading of 83 two weeks earlier. We can see a Bearish Engulfing Candlestick pattern forming this month though the month has not finished yet, but we should be mindful of the fact that if it closes this month weak, may be at the current levels or weaker, then it might continue lower in the months ahead for a deeper pull back. It seems that at these current levels, it is extremely risky to buy XRO. We could see the pullback towards the 50% to 61.8% zone between $65.00 - $85.00 for a potential buying opportunity. Please note these are my own notes for future reference, by no means trading advise for anyone. Please do your own research before entering into any trade.
ASX:XROShort
by AsimMirzaTrader
1
ASX - Could we see a Deep Pullback?We have witnessed a superb rally over the years since the start of 2009, but at current levels it seems that ASX may have already started to rollover for a deeper pullback. 1. It seems that it has already made a High in October 2020 and since it was very overbought, the price action since the last 4-5 months have been bearish and it has become toppy. 2. We can clearly see a topping wedge pattern in formation with a MACD cross, indicating Bearish Momentum on the Monthly Chart. If price breaks down lower out of this pattern, we may see some kind of acceleration in Bearish Momentum. 3. Currently it is hovering around $72.00 and there is 200 Weeks Moving Average at $69.00. 4. We might see this support of $69.00 to hold temporarily but ASX is expected to go futher down. It may go down to the Buy Zone of $49.00 - $58.00, which is a Fibonacci Retracement rage of 50% - 61.8% and also the Base Trendline Support, which is added confluence. 5. We may see small bounces or Lower Highs on the way down. Please note these are my own notes for future reference, by no means trading advise for anyone. Please do your own research before entering into any trade.
ASX:ASXShort
by AsimMirzaTrader
Adbri - Ascending Triangle - Approx 17% upsideNot my fav set up here but looks a fairly high probabilty trade. Technicals - Ascending triangle formation, entry on triangle break with bullish candle confirmation. Fundamentals - materials sector is expected to get plenty of activity from various government stimuli, plus, low interest rates environment is beneficial. Additionally, the market expected a much weaker outcome as a result of the coronavirus pandemic, and as a result a further bounce in share price is a decent probabilty.
ALong
by rutt
MPL - The next Pullback Could be a Buying OpportunityBullish Trend Indications: The chart of MPL has developed well, indicating that the Bear trend has finished and after price hitting Resistance, it is trying to pull back. The downtrend line has been broken decisively with good Volume and has hit Resistance. It has also developed a Golden Cross. We can clearly see that while price had been moving higher, OBV has been decreasing. This shows lack of upside Volume which indicates divergence and decreasing Volume. We can also see a Bearish Divergent MACD Cross also indicating lack of Momentum, while price was moving higher which shows that it is ripe and ready to pull back. I expect it to head lower into the Buy Zone of $2.60 - $2.80 range where I will be looking to buy after Bullish Price Action. Please note these are my own notes, by no means trading advise. Please do your own research before entering into any trade.
ASX:MPLShort
by AsimMirzaTrader
TPW - Medium term Bearish Trend ConfirmationBearish Trend Confirmation Indications: 1. The trend has got weak on the weekly and Monthly with Bearish Engulfing Candles and High Volume 2. The price has formed a lower Highs and a lower Lows on the Daily which is confirmation of a bearish trend 3. The down move was a powerful and impulsive wave I expect price to retrace on the upside, and I expect price to get weak at or near (Resistance Zone between $10.50 - $11.00 level), where sellers may attempt to dump the stock. I expect price to get weak. The ideal level and extremely Strong Support Zone is between $6.50 - $8.00, but it is not necessary that price may drop all the way down to $6.40. There may be little swings on the way down but will have to see where TPW finds strong support. I would be a confident buyer at that strong support level for a long term position. Please note these are my own notes, by no means trading advice. Please do your own research before entering into any trade.
ASX:TPWShort
by AsimMirzaTrader
ALD - A Buying opportunityI am bullish on ALD , the chart looks positive as it has made Higher High and even a golden cross. There is good support between $27.50 - $28.50 range, as its also a High Volume Profile Zone and we can see Bullish Price Action after some consolidation with High Volume. MACD Histogram is changing color, cold be a possibility of a shift in Bearish Momentum. I am expecting continuation of the upward trend. First Take profit at $30.00 range. Second Take profit at $33.00 range. Please note these are my own notes, by no means trading advice. Please do your own research before entering into any trade.
ASX:ALDLong
by AsimMirzaTrader
WPL - Any Retracement Lower could be a Buying OpportunityThis stock had been hit real hard during the COVID -19 pandemic because of plummeting Oil Prices. Now that we have observed Higher Oil Prices, and particularly WPL has been going up now, I believe the trend will advance further up and we may see much higher prices in the days to come. We can see a Golden Cross, MACD has crossed and High Volume, which shows the possible change in trend. Nothing goes up in a straight line, so since price have been moving up we have not seen a decent retracement, so I believe any retracement lower could be a good Buying Opportunity. We might see some kind of profit taking in the Gap Window Zone, between $24.90 - $26. 40 range, so any pulback lower ideally in the Buy Zone between $20.00 - $22.50 range could be a great Buying opportunity. Please note these are my own notes, by no means trading advice. Please do your own research before entering into any trade.
WLong
by AsimMirzaTrader
CGF - Another Buying OpportunityBullish Confirmation Indications Recent price action has confirmed a reversal by pumping upwards and forming a higher high. 1. Price has formed a higher high 2. It has formed a Golden Cross 3. Recent session's price action, ( Bearish Candle) indicates that the stock price is facing a hard time continuing up 4. The price is at 50% Fib Retracement level of $6.60 and which is also a Resistance Zone 5. MACD is suggesting that Bullish Momentum is exhausting 6. I will be confident to buy in the $5.10 - $6.10 region (Buy Zone). Please note these are my own notes, by no means trading advice. Please do your own research before entering into any trade.
ASX:CGFShort
by AsimMirzaTrader
S32 - Next Pullback may give a Buying OpportunityBullish Confirmation Indications Recent price action has confirmed a reversal by pumping upwards and forming a higher high. 1. Price has formed a higher high 2. It has formed a Golden Cross 3. Recent consolidation at Resistance indicates that the stock price is facing a hard time continuing up 4. The price is at 78.6% Fib Retracement level of $2.45 and @2.60 range, which is also a Resistance Zone 5. OBV suggesting Bullish Volume may be fading 6. I will be confident to buy in the $2.20 - $2.35 region (Buy Zone). Please note these are my own notes, by no means trading advice. Please do your own research before entering into any trade.
ASX:S32Short
by AsimMirzaTrader
SCP - Good Buying OpportunityBullish Confirmation Indications Recent price action has confirmed a reversal by pumping upwards and forming a higher high. 1. Price has formed a higher high 2. It has formed a Golden Cross 3. After forming a Higher High, price failed to continue upwards and is now pulling back 4. This pull back has come down and has entered in the Buy Zone and Fib retracement zone of 50% - 78.6% of $2.20 - 2.35 5. There is also a trendline support and price may bounce at the lower end of the channel support of $2.20 6. There is a High Volume Profile Zone at $2.20 (another confluence) 7. I will be confident to buy in the $2.20 - $2.35 region (Buy Zone). Please note these are my own notes, by no means trading advice. Please do your own research before entering into any trade.
ASX:SCPLong
by AsimMirzaTrader
EML - May provide a Buying Opportunity SoonBullish Confirmation Indications Recent price action has confirmed a reversal by forming a higher highs. 1. Price has formed higher highs 2. It has formed a Golden Cross 3. After forming a Higher High, price failed to continue upwards and is now pulling back 4. This pull back has come down and has entered in the Buy Zone and Fib retracement zone of( 50% - 61.86%) of $3.40 - 3.70 5. There is also a trendline support (confluence) which may also be a bouncing spot at $3.50 6. I will be confident to buy in the $3.40 - $3.70 region (Buy Zone). Please note these are my own notes, by no means trading advice. Please do your own research before entering into any trade.
ASX:EMLShort
by AsimMirzaTrader
1
APT - Getting Very RiskyAPT has been forming Higher Highs and has been in a superb uptrend but now it looks very risky at such elevated levels. As we can see that it has been supported by the upward trendline, we should also notice a Bearish Divergent MACD Cross which indicates that the Bullish Momentum may be running out of steam for now. I believe that if we see the trendline break, we might see a follow through and price to plummet all the way down to Support at the $70.00 - $72.00 range. This could be a 35% move from current price level of $110.00. APT has been in a Long Term Uptrend and I think we might see a shift in the Medium Term Trend soon, which is fine and healthy for the Long Term Uptrend to continue. Please note these are my own notes, by no means trading advise. Please do your own research before entering into any trade.
AShort
by AsimMirzaTrader
2
SZL - Is it time to get Bullish?Bullish Confirmation Indications Recent price action may have confirmed a reversal as we can see that price came down to the trendline and has since moved up. Price has also moved out of the downtrend line (triangle) which indicates that Buyers are strong. 1. Price has been supportive at the support level of $5.20 level twice which is a Bullish Sign. 2. There also lies a trendline which has acted as good support 3. There also lies 200 day Moving Average trending upward and has provided Dynamic Support (Confluence) 4. Price has been failing to continue up because of the Resistance Zone of $6.80 level 5. I believe that price may come down again to give a buying opportunity and backtest the trendline and continue up 6. I will be confident to buy in the $5.80 - $6.000 region after proving some 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.
SLong
by AsimMirzaTrader
TLS - We may be getting a Buying Opportunity Right Away...TLS seems to be a buy right away, as it has pumped up higher with a massive Bullish Candle above the downtrend line, with High Volume and simultaneously giving a Bullish MACD Cross. It has been falling off like a rock since June 2015 all the way down from $7.00 to around $2.60 ( Support Zone ), but I think we may have seen a Medium and Long Term Term Low as it has bounced off strongly. We can also see as price was forming lower lows, MACD has been moving up developing a massive Bullish MACD Divergence suggesting a big shift in the Bearish Momentum. I believe that TLS should continue to move higher until it finds resistance at the R1 zone around $3.30 at TP1, giving a potential gain of70% on the position and move even higher to $3.550 region where my TP2 lies, to give a further 7% gain (or 14-15% gain in total position). Please note these are my own notes, by no means trading advice. Please do your own research before entering into any trade.
ASX:TLSLong
by AsimMirzaTrader
COH - Are we getting a Buying Opportunity Right Away?COH seems to be a buy right away, as it has bounced off with a massive Bullish Candle, with above average High Volume and simultaneously giving a Bullish MACD Cross. It has been falling off like a rock since the 19th of November High of roughly $240.00 all the way down to around $177.00 (Support Zone), shedding almost 26%, but I think we may have seen a Medium Term Low as it has bounced off strongly. I believe that COH should continue to move higher until it finds resistance at the R1 zone between $205.00 - $210.00 range at TP1, giving a potential gain of 20% on the position and move even higher to $220.00 region where my TP2 lies, to give a further 12% gain (or 32% gain in total position). Please note these are my own notes, by no means trading advice. Please do your own research before entering into any trade.
ASX:COHLong
by AsimMirzaTrader