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ASX LIMITED

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ASX trade ideas

ASX Bullish MovePrice continues to slide bearish, 12.92% decrease from high volume Node (P.O.C). However, previous high volume node, VRVP of $81.48 and average closing price of $81.12 seems like the fair Value of ASX:ASX. Entering low volume node territory now and the only other times in recent memory that price entered these zones were highly volatile market conditions 1) Covid 2) Inflationary issues, Ukraine war and energy concerns etc. These seem like exceptional circumstances for these zones. Also, when price dropped to these zones there was accumulation, followed by bullish moves. It would seem that the market players value this asset higher. Additionally, This area is a previous support with significant price action having occurred in these areas. As added confirmation, MACD is showing slowing bearish momentum. Highly probable to turn bullish with possibly a crossover in due time.
ASX:ASXLong
by The_Munch
Analyzing Australian Securities Exchange Stock's Trend.According to The Australian Bureau of Statistics' data, there are two scenarios for the stock of ASX Limited's trend. The first scenario is more recommended than the second one, which depends on the negative news about the change in the employment rate, and it is more likely to make the stock fall to break the first support line 84.22 and reach the second support line 83.65, then the third support line 82.42 on the other hand, there is positive news about the decrease in the unemployment rate by 0.5% than the expected rate, which may cause the stock to rise to breach the first resistance line 84.74 to reach the second resistance line 85.38 and then the third resistance line 86.43
ASX:ASX
by RowaynaAhmed
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