GEM weekly reversal longGEM shruggled off a earnings disappointment and held previous zone PoC, the weekly is breaking out of an ascending triangle, the BO level of 1.33 was breached prematurely to earnings and an inside level is forming on the daily. Moved to red flag and watching for setup.
The initial target would just be the take partial level. This could be a powerful weekly reversal, start of a trend.
GEM trade ideas
RiskMastery's Breakout Stocks - GEM EditionWelcome to RiskMastery's Breakout Stocks - Stocks with breakout potential.
In this edition, we'll be looking at ASX:GEM ...
I believe this code is at a point of potential volatility.
If price can hold above $1.245 ... Bullish potential may be unlocked.
My key upside targets include:
- $1.335 (Conservative)
- $1.535 (Medium)
- $1.715 (Aggressive)
If however price falls below $1.130 ... Bearish risk potential may be unlocked.
(My key risk targets - C, M,& A - are as noted on the chart)
Enjoy, and I look forward to being of further service into the future.
If you'd like to connect, feel free to reach out and comment below.
Mr RM | Risk Mastery
Disclaimer:
This post is intended for educational purposes only - Publicly available RiskMastery information & content is not intended to be financial advice in any shape or form. Please do your own research and seek advice from a licensed professional before acting on any of the information contained within this post. This post is not a solicitation or recommendation to buy, sell or hold any positions in any financial instrument. All demonstrated trades are merely incidental to the educational training RiskMastery aims to provide. You are solely responsible for your own investment and trading decisions, of which should be made only according to your own opinion, knowledge and experience. You should not rely on any of the information contained on this site or contained in any RiskMastery material on any website or platform. You assume the sole risk of any trade or investment you elect to make. RiskMastery and affiliates shall not be liable to you for any monetary losses or any other damages incurred directly or indirectly, from your use, reliance or reference of RiskMastery materials, content and educational information. Thank you for your understanding and cooperation - We look forward to working with you into the future to navigate the fine line of trading and investment success.
GEM.ASX_Bullish Pullback Trade_LongENTRY: 1.230
SL: 1.155
TP: 1.305
- ADX>25
- Daily RS +ve
- Daily FFI +ve
- Weekly RS -ve
- Weekly FFI +ve
- Moving averages are aligned.
- Would like Stoch RSI to cross up 20.
- Entry based on controlled pullback until 8 Feb 2023 to resistance-turn-support area (1.200) and rebounded with increasing volume.
$GEM - G8 EDUCATION - Broken $3 resistance and growingGEM is looking interesting. Has successfully broken through and started to build support above the $3 ceiling. Nice big profitable company that had a $4.70 price tag in the past. One to watch.
Only word of warning is its a bit gappy on the buy side in the market depth queue. Would be nice to see more buyers lined up with a closer spread.
G8 Education Limited provides developmental and educational child care services. The Company's principal activities include the operation of early education centres owned by the Company and its subsidiaries, and the ownership of early education center franchises. It provides quality care and education facilities across Australia and Singapore through a range of brands. The Company's portfolio consists of approximately 490 in Australia and over 20 in Singapore. These centers provide a total combined licensed capacity of approximately 38,710 places. It offers brands, such as First Grammar, reative Garden, Kindy Patch Kids, buggles, Sandcastles, World of Learning, jellybeans, Kinder Haven, Pelican Childcare, Nurture One and Penguin Childcare. The Company's subsidiaries include Sydney Cove Children's Centre B Pty Ltd, Sydney Cove Property Holdings Pty Ltd, World Of Learning Licences Pty Ltd, Kindy Kids Operations Pty Ltd, Alfoom Investments Pty Ltd and Cherie Hearts Corporate Pte Ltd.
$GEM rare run in current marketbroke 200ma and gives a higher high.
cautiously optemistic on one of the few stocks to be making gains.
a few level resistance lines to break but increasing volumes on higher prices and strong candles appear promising.
I would annticipate a struggle here (higher low) before higher prices.
POTENTIAL BULLISH MOVE FOR GEM (G8 EDUCATION)Price has been above the clouds for 3 days. Tenkan-sen line crosses Kijun-sen line to the upside. However, stochastic is at overbought zone. The price is likely to retrace back prior to moving up. Watch for resistance level at $2.71. Price will keep moving higher if it breaks above this resistance level.