LONGFundamentals and technical analysis seem to be lining up pretty well When prices breaks resistance of the wedge WE WAIT FOR Pull Back to go long!
Shares
ASX Double Top. The end to the bull run!!!SMP TRADING
SELF DEVELOPMENT/METHODOLOGY/PSYCHOLOGY
Chart time frame - H4
Timeframe - 1-2 Weeks
Actions on -
A – Activating Event
Market will meet resistance in zone @68.90 - ..... and fall to @ 58.00. In order to enter, the pair MUST be in line with my Entry Procedure....
B – Beliefs
Market move towards the first Target 1 level @ 58.00
ASX:ASX
Trade Management
Entered @ Sign up for mentoring
Stop Loss @ Sign up for mentoring
Target 1 @ 58.00
Target 2 @ ....
Risk/Reward @7.1
Happy trading :)
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This information is not a recommendation to buy or sell. It is to be used for educational purposes only!
IS THE CORRECTION COMPLETE OR WILL WAVE 5 COMPLETE FIRST?Growthpoint Properties is a diversified property investment holding company incorporated and registered as a public company on 12 October 1987. Growthpoint shares are listed for sale under the Financial Services Real Estate Investment Trust sector of the Johannesburg Stock Exchange (JSE), and the group is today one of the biggest players within the sector. The company boasts a portfolio of 525 properties which provide 6.7 million m² of retail, office and industrial space to leading businesses in South Africa and Australia. They also have a majority stake in 53 Properties which are valued at R22 billion. One of Growthpoint‘s biggest investments is a 50% stake in the properties at Cape Town’s V&A Waterfront, valued at R6.8 billion.
Technicals
As you can see on the chart above, there was a spike down to the 50% Fib retracement level as indicated with the red arrow. This is a strong level of support and the rally from there could continue on upwards if this is the formation. I would not be surprised to see wave 5 complete to the 61.8% Fib retracement level before we see the break to the upside but due to the break of the structure at the top of wave 4, it is also possible that the rally will occur soon.
Ferrari (RACE) sell signalFerrari (RACE) D1: Downtrend like from textbook + Horizontal level + Overbought + Hidden Divergence on RSI(14).
Bank of AmericaA new head and shoulders pattern seems to be in formation as we have started creating our right shoulder.
The bullish leg we recently had, has come to an end as price reaches resistance (which is proving to hold strong).
From here Im looking at a take profit region around the neckline of our formation and if it is broken successfully then the extended tp has also been added to the chart
Citigroup SHORT64.02 region must hold strong in order for us to see another bearish leg unfold to 56.35.
Once we reach this supportive area, I expect a bit of sideways movement before confirmation of the next trend (be it bearish or bullish)
Time to wager on GVC?Company has growing revenues from online gambling platforms
Also recent merger with MGM (US) allows it to expand and set up online gambling business in US
Recent sell off in share price offers better risk to reward
RSI rising on daily chart
2:1 trade idea as shown on chart
Entry taken at 661
1st Target 800
SL at 595
Good luck!
Facebook after the strong Q4 earnings
Technically, in the medium term, Facebook remains in a downtrend channel despite the peak seen after it posted its earning report yesterday. However, the fact that the share holds a strong floor above the 23.6% of the losses seen since July 2017 turns the near term outlook to positive one. The 20-week Moving Average, which coincides with 23.6% Fib. level, was breached in mid January at $ 145.37 .
On the daily chart the asset remains above it so far today, with Support at 50-day SMA, at $ 139.30 .
Resistance is set at the latest upswing at 152.00 barrier. A break of this barrier could boost FB stock price to 159.40 (38.2% Fib. level)in the near future, but also up to 200-day SMA , at 165.00 area in the medium term.
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ZOO's in the doghouseMarket has punished ZOO's weak trading statement accordingly.
Gapped below 86.5 support and is now below the 200 moving average. What's not to dislike?
growthpoint longOne of the top JSE stocks I would be buying this year.
Projected target would be the 300 mark
MSFT: going shortOn the hourly chart of MSFT shares, it seems that the price has finished the 4th Elliott wave of a bearish cycle, the 5th wave is coming. Going short with using trading levels marked on the chart.
FOXA: bearish signalOn the hourly chart of FOXA shares, I expect the price to start the 5th Elliott wave down after ABC correction within the 4th wave. Also, a sell signal was formed - bearish divergent bar. Breakdown of its level would be an optimal price to open short with SL above it.
AMD Bounced Off Support, Potential Rise!AMD bounced nicely off its support at 14.63 (61.8% Fibonacci extension, 76.4% & 61.8% Fibonacci retracement, horizontal pullback support) where it could potentially bounce to its resistance at 20.87 (61.8% Fibonacci extension, 61.8% Fibonacci retracement).
Stochastic (55, 5, 3) is bounced off its support at 3.5% where a corresponding rise could occur. A bullish divergence with price has also been identified that contributes to our bullish bias.
WYNN Reversed Off Resistance, Potential Drop!WYNN reversed off its resistance at 105.45 (61.8% & 100% Fibonacci extension, 50% Fibonacci retracement, horizontal overlap resistance) where it could potentially drop further down to its support at 98.38 (50% Fibonacci retracement, horizontal pullback support).
Stochastic (55, 5, 3) is approaching its resistance at 96% where a corresponding bounce could occur.
CSCO Reversed Off Resistance, Potential Reversal!CSCO reversed off its resistance at 43.47 (61.8% Fibonacci extension, 23.6% Fibonacci retracement, horizontal overlap resistance) where it could potentially drop further down to its support at 40.73 (horizontal swing low support).
Ichimoku cloud shows signs of bearish pressure that contributes to our bearish bias.
BP Testing Resistance, Potential Reversal!BP is testing its resistance at 38.62 (61.8% Fibonacci extension, 23.6% Fibonacci retracement, horizontal overlap resistance) where it is expected to reverse down to its support at 36.99 (horizontal swing low support).
Ichimoku cloud shows signs of bearish pressure that contributes to our bearish bias.
HP Approaching Support, Potential Bounce!HP is approaching its support at 40.98 (61.8% Fibonacci extension, 76.4% Fibonacci retracement, horizontal swing low support) where it could potentially bounce to its resistance at 57.54 (50% Fibonacci retracement, horizontal pullback resistance).
Stochastic (55, 5, 3) is approaching its support at 1.9% where a corresponding bounce could occur.
BABA Approaching Support, Potential Bounce!BABA is approaching its support at 118.52 (61.8% Fibonacci extension, 61.8% Fibonacci retracement, horizontal pullback support) where it could potentially bounce to its resistance at 165.49 (50% Fibonacci retracement, horizontal pullback resistance).
Stochastic (89, 5, 3) is approaching its support at 3.9% where a corresponding bounce could occur.
COKE Approaching Support, Potential Bounce!COKE is approaching its support at 160.49 (100% Fibonacci extension, 61.8% Fibonacci retracement, horizontal swing low support) where it could potentially bounce to its resistance at 195.01 (61.8% Fibonacci retracement, horizontal pullback resistance).
Stochastic (55, 5, 3) is approaching its support at 2.6% where a corresponding bounce could occur.
GOOG Bounced Off Support, Potential Rise!GOOG bounced nicely off its support at 977.71 (100% Fibonacci extension, 76.4% Fibonacci retracement, horizontal overlap support) where it could potentially bounce to its resistance at 1125.29 (horizontal swing high resistance).
Stochastic (55, 5, 3) is bounced off near its support at 8.2% where a corresponding rise could occur.
GS Broke Out Of Major Support, Potential Drop!GS broke out of its major support turned resistance at 171.75 where it could potentially drop further to its support at 137.33 (horizontal swing low support).
Ichimoku cloud is also showing signs of downward pressure which contributes to our bearish bias.
