buying Idea BXB with stop at 18.57BXB has build a good base at all time, looking to break through! last two earnings has surpass the expectations, next earning on 24th Dec with a high expectation! with positive market sentiment this could lead to new highs!
With a decent stop we can see if the this momentum can continue.
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BXB trade ideas
BXB (Brambles Limited): March 9, 2024ASX: BXB (Brambles Limited) || March 9, 2024
Master of Elliott Wave Analysis: Shane Hua (CEWA-M)
Bottom line: BXB may continue to rise higher.
(Left chart): The context analysis provides a comprehensive view, indicating that wave ((ii))-green has concluded at the low of 12.70 and wave ((iii))-green has unfolded. Price action has risen higher, completing waves i, ii, iii, iv-blue, and it seems that wave v-blue is in the process of rising higher, targeting 16.27 (Wave 5 = 0.618 times the net move of wave 1 to wave 3) or reaching the upper boundary line in the Final Channel, while the price maintains above the low of 14.61, supporting this view.
(Right chart): The short-term outlook describes the most recent price actions. Since the target at 16.27 is still ahead, I still believe that wave v-blue will rise further, and it appears that wave (1)-green of v-blue is unfolding. Wave (1)-green may be nearing its peak, but it could still rise higher, as long as the price remains above the low of 15.31. A drop below this level indicates that wave (1)-green has indeed peaked, and wave (2)-green is unfolding before wave (3)-green returns and rises higher to achieve the target as analyzed.
Brambles - Thorny Resistance incoming?Brambles caught my eye last week 21-Jan, and looked good an pumpy. Was $14.25 when first spotted.
My guess would be it reaches previously all time resistance, forms a double top. Will be better entry points, and worthwhile waiting a few weeks to see how this pans out.
I have seen better opportunities in the ASX, not one I'm currently looking to dip in at.
Currently Neutral.
BXB - Another Buying OpportunityBXB is pulling back currently and has found support on the 200SMA and the POC of Volume Profile around $1.090. If it shows bullish price action within this zone or breaks lower towards the trendline, I would be monitoring to take a long position after bullish price action confirmation. Lets see how it develops.
Please note these are my own notes, by no means trading advice. Please do your own research before entering into any trade.
Brambles - Wedge/Triangle Pattern has to be respectedBrambles is one to keep an eye as the range tightens inside the triangle pattern. breakout is coming soon.
Which way it breaks your guess is as good as mine, however, if we go off the last decade of BXB chart patterns we should see a bullish breakout.
Additionally, Todays trading update: www.asx.com.au looks promising.
BXB - Another Buying OpportunityBXB has clearly broken its downtrend and has made a swing high. Price is expected to pull back and I am expecting it to reach towards my Buy Zone between $10.70 - $10.80, which is also trendline support. I will be looking at price action in that zone for a long opportunity and my targets will be the previous highs and above with a stoploss below the new swing low.
Please note these are my own notes, by no means trading advice. Please do your own research before entering into any trade.
Brambles to Breakout of it's Symmetrical TriangleBrambles entered a classic Symmetrical Triangle since the Pandemic. it has posted weekly gains for the past 3 weeks. the Elder Impulse system has the last candle Green which is a sign to go long. Waiting for it to pass the down tending line before taking a position
neutral to bullish BXB ( asx) - bull credit spread
This is based on ' The Anty' strategy in which after a normal correction degree, there is at least the same or better recovery in price - a neutral to bullish strategy is bull put spread ( paid a credit) and with only 8 days until expiry benefit from time-decay at a fairly high probability scenario....it needs to close below 10.98 at expiry ( using european style options) so get exercised and forced to purchase stock at this price ( 500 shares contracted). There is put protection below at 10.48 so if really falls hard the most I can lose is -$500 ( fixed loss). Of course I would hold the stock until at least recover the loss as an attractive price over 3 months...
BXB on the edgeBXB is hanging in there by a thread.
Note that the lower high and lower low, as well as the completion of a Demark Sequential sell countdown prior to reaching the support level after breaching the previous buy support level.
Breaching through the buy set up support would be a substantial lower low and could see a run much further down.
ASX:BXB Ready For new Uptrend - Maybe not.ASX:BXB
Looking at this on a RENKO Traditional 0.50 chart has this stock turning into an uptrend.
He only issue I see here is the moving Average is still pointing up. This is a warning sign this stocks new uptrend may not be as solid as I would hope.
Staying out of this one as I think its a false positive on the turn but I am posting the idea for Historical reflection.
head & shoulders + ascen tri + downtrend resistance now support1) head and shoulders in blue at cusp of breakout area - wait for breakout confirmation before going long. Target is solid blue star
2) pink line downtrend resistance now acting as support since breakout in mid-november also a descending wedge which has broken out to the top. pink arrow cloned for this secondary target (solid pink star)
3) red lines are an ascending triangle of which has the same confirmation level for the head and shoulders.
red arrow cloned to estimate target.
Summary - enter $12.22/5, exit $14'ish for a 12% return by May 2017