SFR, confirmed uptrend, longSFR in a strong weekly uptrend.
Daily just broken out of a major consolidation level.
Watching for a retest entry, and trend follow.
SFR trade ideas
SFR supply zone price entering a h4 d1 supply zone with general direction.
waiting for more price structure and monitoring their dynamics until if and when potential seller PA presents itself in and around zone location.
short copper SFRlooking for consolidation phase with no convincing hh to come as price looks capped up here. looking more better bearish PA overtime when dynamics shifts and PA is clearer. likey good r/r short side over longer term periods DYOR paper trading only.
RARE example of diamond - two triangles back to back with targetRARE example of diamond pattern - two triangles back to back with target
Already triggered
will be interesting to see if the targets are met
Aussi equity
SFR Bearish DivBeak below 20 EMA first time
RSI Bearish Div
Macd turnover and Bearish Div
Decreasing volume
SFR - Descending Broadening Wedge possible breakoutSFR has an interesting Descending broadening wedge formation, which you can interpret as corrective in nature within a larger trend. Some evidence to support a bullish posture here:
1. support and volume poured in near the price control value of $5.41.
2. There has been a lot of volume traded between $6.20 and $6.40 as well but a lot of the recent price action has tested these zones and would have removed some stale supply.
3. The short term Stochastic (grey) appears to have bottomed out whils the longer term Stoch (blue) is showing some strength. I don't like the blue Stoch dipping too far below 50 but its turning up at least and indicates the correction may now be over.
4. We can easily define the breakout with a weekly close above $6.35 and closing on or close to its highs. Until then we remain in stalking mode. Traders can set some close stops in this scenario and investors might look for a price target of $8.50
SFR - Trade PlanSFR has pulled back and is approaching its strong Support Level, This zone coincides with the POC of volume profile and also trendline support, therefore it could likely bounce off the zone. I will be monitoring price action and will buy after bullish price action confirmation.
Please note these are my own notes, by no means trading advice. Please do your own research before entering into any trade.
Sandfire Resources breaks critical resistance levels at 4.52Share prices exploded from the opening trades with massive volume breaking thru 4.52 to the upside up by 7.54% at the time of writing. If you missed the opening trades' action but still want to get into this run, I suggest you wait for price retracement around the support levels mark on the chart by the support and resistance indicator. 4.63 price level is a reasonable pullback level. The major target is estimated at 4.80; a break above 4.80 could potentially push prices to the next major level at 5.14
On a knife edge - but been there before so no FOMOThe price has been around this long term trend line on several occasions, so do NOT presume that it will breakout this time. This is just a heads up to watch the price action & see if it yields a trade in the near future.
An Inverted H & S pattern to wtachWe are seeing the formation of an inverted H & S pattern with a neckline that lies along the long term trendline. A break and retest of the neckline/trendline should confirm the bullish pattern
Long Term HoldUndervalued stock for long term hold probably seeing this have great growth over the next 4 years.
$SFR - SANDFIRE RESOURCES - Resistance brokenHas been a good runner in the past. Will be interesting to see if it can keep going. Indicators look promising.
SFR - Buy opportunity or Re entering sidewards trend. SFR continues to hold no debt and is completely funding its own operations and exploration activities from cash flow.
This is likely to see further exploration announcements and farm in deals with other mining companies over FY19 as has been the case in FY18.
We continue to cover SFR as a Star Growth Stock with an unchanged Lincoln Valuation of $8.06.
Sandfire - ascending triangle developingSandfire Resources NL is a mining and exploration company. Copper, gold and silver.
Developing Black Butte Copper Project in central Montana, USA.
Ascending right-angle triangle developing on the weekly. Price allow now entry with good risk/reward.
