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RIO Next Stop $80 Range???With current uncertainly www.commsec.com.au following is a snippet from news: 1. Either way, Aussie investors are indirectly exposed to Evergrande through the Chinese property sector’s insatiable demand for iron ore. The price of the steel-making ingredient - Australia’s most important export - has already halved from record highs of around US$233 a tonne in May, following China’s clampdown on the property sector and pollution. 2. A downdraught in Chinese property prices would further subdue construction and reduce iron ore demand. Of course, a potential Evergrande default would be catastrophic for steel demand and shares of Aussie-listed iron ore producers. with current levle of uncertainlty, it's just like catching falling knife, unless we get trend reversal confirmation. it is possible we can see further down side around $90 range and then finally $80 range. Please note these are my own notes for future reference, by no means trading advise to anyone. Also, please feel free to comment or share your thoughts.
ASX:RIOShort
by AsimMirzaTrader
DSK - Could we see a pullback?DSK has rallied nicely, but the recent price action indicates that maybe price has gotten top heavy. It looks very overbought currently and may need a breather and a decent pull back, as it has printed a double top, coupled with MACD Bearish Divergence. It has also broken its trendline, which makes me believe that it may run out of steam and pull back lower. There is strong support at $3.30, which should hold and I believe if broken, we might see acceleration in price drop. I have two buy zones (1st Buy Zone between $2.80 - $2.95) and (2nd Buy Zone between $2.50 - $2.70), where I think price may come to test as these are previous Resistance zones or congestion zones and also Fibonacci 50% and Fibonacci 61.8% zones (confluence). I would monitor price action at either of the two levels and would buy after bullish price action confirmation. Please note these are my own notes, by no means trading advice. Please do your own research before entering into any trade.
DShort
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
SYD Airport to Land soonIts been quite a challenging time for Sydney for quite some time and good days isn't near anytime soon. Going by the chart, looks like SYD will dip more to around 5.35 level before bouncing up again. Also all EMA's are above the price line which is a bearish sign. Would be interested to see how long will SYD take to Take off. 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
SShort
by Manjyot
CWY - Possible Pullback in progressCWY has been going in a very good uptrend and appaently it seems that it has gone up quite far and facing some resistance. Hoping to see it retrace lower, ideally to the bullish trendline or towards the 200 SMA for a potential buy setup. I will see how it develops further if and when it comes lower for a pull back. My Buyzone is between $2.35 - $2.50, which is the trendline support area where I will be monitoring price action for a potential buy plan. Please note these are my own notes, by no means trading advice. Please do your own research before entering into any trade.
ASX:CWYShort
by AsimMirzaTrader
MGR - Uptrend Confirmed. Next Buying opportunityBullish trend confirmation indications: 1. Downtrend line broken. 2. Impulsive price action at the break of the trendline with High Volume 3. After the impulsive break, price is pulling back. 4. I would be a confident buyer within the Buy Zone which is the Fib Retracement Level Zone of 50-61.8 % and support of the trendline. The ideal Buying zone is between $2.20 - $2.40. 5. Good Buying Opportunity if it closes positive or prints a Bullish candlestick patterns in the Buy Zone area and on or near the trendline with Bullish Price Action follow through. That will be a trade with confluence. Please note these are my own notes, by no means trading advise. Please do your own research before entering into any trade.
ASX:MGRShort
by AsimMirzaTrader
RZI - Will it pull BackRZI has moved higher very nicely but I think it is time for it to pull back. The RSI has been coming down from the Overbought Zone with some Bearish Price Action. It seems RZI is being rejected now and may be ready to retrace to provide a good Buying Opportunity. There is Trendline Support and High Profile Volume Zone within the same Zone of $0.950 - $1.00 which may provide an excellent buying opportunity. At this time it is at very elevated levels so buying at the current levels is very risky and we should be patient in our strategy. 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.
RShort
by AsimMirzaTrader
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
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
buying opportunity at 0.750 best at 0.375 1. It's definitely overbought, RSI 79 (Monthly) RSI 58 (Weekly) RSI 50 (Daily) 2. Losing volume, based on volume indicators less volume with rising price is again bearish indicator. 3. could be good to consider buying at Fib level 0.5 at $0.750, Its also price consolidation zone just around 30% retracement from current price. 4. Ideally best buying should be in support zone between 0.420 - .0375. 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:DEGShort
by AsimMirzaTrader
Short term bearish, medium term bullish 1. On daily chart losing volume and overbought. 2. will probably come down to find support at $6.56 confirmed by following three indicators: a 50 MA b. Fib Level 0.236 c. high volume trade zone 3. Price consolidation zone is $6.17 to $5.67, good support level. 4. if support at $6.56 range fails then next major support is at $5.64. 5. I think my strategy would be: a. buy moderately at $6.51 range b. wait and see how trend settles, if it comes further down then expect support at $5.94 range and buy as much as I can Note: Please note these are my notes for my own future reference. By no means trading advise to anyone. Please do your own research before entering into any trade.
ASX:AIAShort
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
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