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Trendfollowing

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 ----- Text me if you have any questions/feedback for me.
ASX:LIC
by Jerm88
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 ----- Text me if you have any questions/feedback for me.
ASX:IGO
by Jerm88
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 ----- Text me if you have any questions/feedback for me.
ASX:AGL
by Jerm88
4
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) ----- Text me if you have any questions for me.
ASX:NWF
by Jerm88
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
ASX:CXL
by Jerm88
Palladium Back At $2,000!Following the peak of the Covid pandemic in March 2020 when price declined by 48%, price turned around and gradually moved back to the upside, eventually breaching the all-time high 11 months later. In May 2021, price created a new all-time high at $3,017 before heading back down towards the weekly 50 simple moving average. The 50 simple moving average was an important catalyst in the growth of price and appeared as though is was going to hold as support again in August 2021. Price breached this indicator and has since moved further down to the next obvious level of support: the psychological $2,000 round number. If this support zone holds strong, we should soon see a bounce back to the upside and a bull trend resumption. The bigger picture shows us that price is in a long-term period of consolidation, which began in February 2020. The all-time high in May 2021 was just a fake breakout. For now, this commodity will likely prove challenging to invest in, so the safest option is to wait for a break and close above the all-time high at $3,017 before considering any long opportunities. See below for more information on our trading techniques. As always, keep it simple, keep it Sublime.
TVC:PALLADIUM
by Sublime_Trading
S&P 500 Back At SupportSeptember is usually the weakest month of the year in the stock market, so we were ready and waiting for a pullback to appear. From September 2nd, we started to see a slow down in momentum as an indecision candle formed and from there price started to decline. The 20 and 50 simple moving averages are our expected levels of support, and as we can see, price is now in the space between these two moving averages. Since November 2020, both moving averages have acted well as support during the trend. Although price has moved below the 50 simple moving average at times, it has consistently resumed the trend and gone on to create new all-time highs. If support holds again, we need to see a break and close above the all-time high at $4,545, followed by a move towards $5,000. See below for more information on our trading techniques. As always, keep it simple, keep it Sublime.
SP:SPXLong
by Sublime_Trading
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 ----- Text me if you have any questions for me.
ASX:XRF
by Jerm88
TLS @ 14 SEP 2021TLS - Previous analysis was done on 6 Sep - Suggested waiting for successful breakout of overhead resistances before entry - Today’s price action sees the stock convincingly break the 3.90 resistance - Next strong overhead resistance at 4.00 levels - Half entry at current levels could provide an avenue to manage overall risk-reward - R is less than 10% - Strategy-to-buy (DYOR) – Suggest half entry at current levels if believe the stock can successfully breakout of resistance at 4.00 levels ----- Text me if you have any questions for me.
ASX:TLS
by Jerm88
PLS @ 14 SEP 2021PLS - Previous analysis was done on 13 Sep - Suggested using breakout strategies to plot entry - Today’s price action is again accompanied by above average volume - Strong support zone seen at 2.00-2.05 levels - Due to poor setup, suggest to either plot half position entry at current levels or to wait for formation of Higher Highs (HHs) and Higher Lows (HLs) - R is more than 10% - Strategy-to-buy (DYOR) – Suggest half entry at current levels or wait for more confirmation of uptrend ----- Text me if you have any questions for me.
ASX:PLS
by Jerm88
1
LYC @ 14 SEP 2021LYC - Previous analysis was done on 10 Sep - Suggested half entry at 7.10 levels if confident the stock can rebound to 7.50 levels - If followed half entry suggestion at 7.10 levels, gains would be more than 5% in 2 days - Stock today closed at 7.60 levels and there is no longer any good setup for entry - Best case scenario for the overall health of the uptrend is for the stock to retrace and successfully rebound - R is more than 10% - Strategy-to-buy (DYOR) – Suggest waiting for a retracement and successful rebound Text me if you have any questions for me.
ASX:LYC
by Jerm88
IMD @ 14 SEP 2021IMD - First time doing a written analysis on IMD - Has history of mid-term uptrends that is interrupted by slow sideways price consolidation - Holding this stock would require more patience - This stock is finally making a move with a strong breakout from the counter-trendline (red dotted line) - Continued strong price action in this trajectory could see the stock create a new all-time high - R is borderline 10% - Strategy-to-buy (DYOR) – Suggest entry above today’s high if believe the stock is capable of forming new all-time high
ASX:IMD
by Jerm88
ILU @ 14 SEP 2021ILU - Previous analysis was done on 13 Sep - Suggested entry around 10.25 levels if missed out on previously suggested entry levels of 9.90 - Today’s price action is quite far from the short-term support - Even though there still is a borderline 10% risk setup for entry, it is recommended to manage risk by either entering half position or waiting for a retracement and successful rebound - R is borderline 10% - Strategy-to-buy (DYOR) – Suggest half entry at current levels or waiting for a retracement and successful rebound
ASX:ILU
by Jerm88
CHC @ 14 SEP 2021CHC - First time doing a written analysis on CHC - Has history of good uptrends - Stock respects the short-term support more of the time - Trading in a tight band for the last 3 weeks -> I would call this “No Man’s Land” - Formed a double top with strong resistance near 18.50 levels - Today’s price action looks like the first signal of a rebound, but more price action is required - A successful rebound would mean that a strong support would also be formed near 17.50 levels - Due to strong overhead resistance, a breakout strategy is preferable - R is borderline 10% - Strategy-to-buy (DYOR) – Suggest waiting for successful breakout of either counter-trendline or 18.50 resistance levels
ASX:CHC
by Jerm88
ASM @ 13 SEP 2021ASM - Previous written analysis was done on 7 Sep -> suggested waiting for next rebound wave before plotting entry - Today’s retracement has broken through the short-term support and has also created a new Lower Low (LL) -> not good - If there is an immediate rebound to create a new Higher High (HH), the stock is still in good condition - Any further drop to around 10.00 levels would be a structure break - R is more than 10% - Strategy-to-buy (DYOR) – Suggest waiting for successful rebound before plotting entry
ASX:ASM
by Jerm88
SUL @ 10 Sep 2021SUL - First time doing a written analysis on SUL - Has history of multiple uptrends but also multiple downtrends - Strong resistance zone at 13.50-14.00 levels - Stock has been forming LHs and Lower Lows (LLs) since August - Any break of 11.60 support could see the stock test the 10.80 support levels - R is borderline 10% - Strategy-to-buy (DYOR) – Suggest waiting for successful breakout of counter-trendline if comfortable with the overhead resistance zone at 13.50-14.00 levels
ASX:SUL
by Jerm88
LYC @ 10 SEP 2021LYC - Previous analysis was done on 31 Aug - Suggested waiting for successful rebound to 7.50 levels - Stock recently formed a mini retracement wave and today’s price action would be considered a successful rebound - Technically, the stock hasn’t successfully rebounded after the mid-Aug retracement - To manage risk, half position entries are recommended - R is less than 10% - Strategy-to-buy (DYOR) – Suggest half position entry at current levels if confident that stock can rebound to 7.50 levels
ASX:LYC
by Jerm88