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Strong result and reasonable valuation Westpac shares bucked the trend amongst its banking peers rising after revealing its half-year result for the first half of the 2023 financial year. Cash earnings came in at $4,001m which rose +22% from last year benefiting from higher interest rates and making progress to become a simpler, stronger bank with disciplined cost and margin management providing $1 billion of in cost savings. Interim dividend came in at 70 cents per share, up +15% from last year, and a 61% payout ratio to further strengthen their balance sheet. We welcome Westpac’s result which was in-line with market expectations and with a conservative view anticipate loan business and margins to tighten slightly given the slowdown in the housing market due to rising interest rates. Westpac as still trades at a reasonable multiple compared to other big four banks’ forecasted to pay out a 6.5% dividend (taking a prudent approach of assuming no dividend growth from here). Read more at: research.blackbull.com
ASX:WBC
by BlackBull_Markets
XRF Heading lowerUsing Volume Profile analysis to show where the XRF price can be heading after such a great run in April. During consolidation period followed by a move higher, the price pulled back toward the previous Point of Control (POS) before the position was defended and price bounced off before moving higher. Prior to the big move up on 14-Apr, the POC was clearly building around the 1 - 1.03 level. If it falls below the 1.15 level which happens to be the 0.618 Fib level as well, it will most likely fall back to around the 1.00 level as there is a low volume profile region below 1.15. My expectation is that this position around 1.00 will be defended as the fundamentals for the company remains strong. This could also be a good entry point for those who missed the initial run up.
ASX:XRFLong
by jazziej
QBE Weekly Divergence possible bollinger band reversalQBE weekly divergence Its important to maintain some level of impartiality when looking at charts... i.e. what's happening right now I've held this as a long term position play but it looks like there are some crack appearing which may signal a few months of consolidation Typically divergence leads to the price coming back to at least the 50ma area While I'm not going to trade this as I'm long and I do not short stocks, I thought it was interesting
ASX:QBEShort
by dionvuletich
Look for pull back to $3.76 consiolidatePull back to $3.76 Look to entry at these levels after confirmation of points below ( one scenario) 1. as. strength wanes 2. Dollar has a slight rally up and then EVN back down to consolidate 3. then Debt Ceiling anxiety brings gold price up 4. Debt increased to $$$ >34Trillion - Dollar looses more purchasing power - USD down $1.00??- ZIRP - rates down, down 5. EVN goes up with TVC:GOLD up 6. Target $3.76 7. React to any other narratives -if trend still is our friend then next target $4.45 (Fib Ret 31.8)
ASX:EVNLong
by rolandfinance2020
4
CAY (ASX) bullish set upAlthough CAY ( ASX) is an information driven asset awaiting mining license, there is some bullish structure. Currently the price is sitting at 0.045 this is insider price purchase and is holding steady. After a large break to 0.078C currently price is forming a descending wedge on the daily / weekly. If price can break-out and hold the daily 50ema: Potentially could see price go to 0.095. - Remember currently nothing has been confirmed. 1 - We are awaiting break-out of wedge / 2 - and hold of daily 50 EMA. - This is simply just a watch and wait strategy as there is good up-side potential on CAY if a breakout is confirmed and could potentially mean a mining license is close / if the structure is to complete.
ASX:CAYLong
by BBALBISS
1
Shares - ASX - Paladin. Ascending triangle get longShares ASX - Paladin. Paladin appears to be bottoming out. Possible double bottom. So we have a reversal pattern as a starting point. We then started forming an ascending triangle with resistance at 0.66. RSI on the triangle is stronger suggesting the triangle should breakout to the upside. We have a dragonfly doji recently also suggesting bullish price action. RSI is higher as the triangle forms. Volume is low as the pattern forms especially on the sells. STO has dropped to 14 on the recent low so it is primed for a bounce. Entry. More risk adverse traders would enter on the break up of the 0.66 range. Less risk adverse traders enter at the bottom of the ascending triangle. Pretty much now. I bought now. Target 1 is 0.75. Stop loss 0.57. Current price is 0.615.
ASX:PDNLong
by thecryptochart
NMT things are looking upThis picture tells a lot. For the sake of simplifying the chart I have removed money flow which is also positive (as of the last few days). If you look at extreme volume over the last few months, it has always occurred at the topside of a mean - that is, distribution. The downtrend abated on the 20th March (with supporting volume on the 17th and 20th enough to arrest the decline). This was extreme volume at the bottom side of a mean - so something has shifted. The grey Stochastics showed some trading interest from this which then peaked on the 14th April and there was no follow through on the longer term stochastic (in blue). Heavy supporting volume arrived on Wed 26th in the same buy zone as the 17th March. Due to the last couple of days, I'll go on a limb and say this stock is now being supported at these levels (Accumulation). Some more obvious things to think about: The downtrend has abated with a basing pattern underway. The first run out of the block on the 20th March received little long term support but you often see that after a downward trend. There's now a positive divergence on the fast Stochastic from March 17th. There's no heavy supply until 80c. A break of 65c would be very constructive. NB: this is not to be construed as financial advice. This is very early days in a potential turnaround.
ASX:NMTLong
by dibster
1
Emerald Resources (EMR:ASX) Wedge BOHey all, I'm still very new to investing but have seen success with EMR. I was an investor in Bullseye (BE) who was acquired by Emerald Resources (EMR) I've been quite a strong believer in gold more recently due to the current world events happening around us and also believe there is some more economic pain to come in the future. I'm in no way a pessimistic person however whilst looking at the world economy and the possibility of it slowly ticking down and being realised that a sickness resides deep within gold has become more and more popular as a defensive commodity. So, let's jump into my TA. I was awarded 8650 shares of EMR valued @ 80c There is a lot of positive signals in the books and within the graph itself. I identified a form of wedge and some areas of interest in the forms of the orange lines which act as S/R levels. I'm currently aiming for $1.6
ASX:EMR
by AXiVenture
GL1 (ASX) - Potential swing set up long Following the impulsive movement up since the March 23rd low, the chart formed an expanding flat which is followed by another smaller expanding flat. The longer the build up, the bigger the potential down the track. Usually a bigger impulse (after the flat) followed by consolidation is more desirable. If you look further back at the market structure, this ticker has reached $3. Have a tight stop here whatever you're trading style if you jump in without further confirmation signals. (I would use a 5-7% stop loss). I am only looking at charts here, not fundamentals.
ASX:GL1Long
by Itachi239
$LPI long (B wave potential here)LPI has experienced an impulsive 25% drop after Chile announces that it will nationalise its country's lithium supply. Private companies will be forced to work with the state to develop the local industry. I have not looked in depth into Chile's lithium industry and the potential long term consequences but the market demonstrated how it felt about the announcement. SQM fell 17% and Albemarle fell 9% (both in the top 5 largest lithium companies in the world). It is no surprise th From a charting perspective, this looks like a clear running flat but could also become an expanding flat down the track. The impulsive C wave down could also be interpreted as the end of a new A- wave. This could mean that there B wave potential here for a swing.
LLong
by Itachi239