Buying small qty of SUN stop at 17.49SUN is doing well, looking to break though it's all time high. given the overall market action and this price action taking a small exposure to share with tight stop.
SUN trade ideas
SUNSuncorp Group Limited is an Australian finance, insurance, and banking corporation based in Brisbane, Queensland, Australia.
Testing multi-month overhead supply. Volume + strong candle structure would be welcomed. Global insurers + re-insurers have been leaders (see some of the U.S & German operators).
SUN - 6 months SYMMETRICAL TRIANGLE══════════════════════════════
Since 2014, my markets approach is to spot
trading opportunities based solely on the
development of
CLASSICAL CHART PATTERNS
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Hello Traders ✌
After a careful consideration I came to the conclusion that:
- it is crucial to be quick in alerting you with all the opportunities I spot and often I don't post a good pattern because I don't have the opportunity to write down a proper didactical comment;
- since my parameters to identify a Classical Pattern and its scenario are very well defined, many of my comments were and would be redundant;
- the information that I think is important is very simple and can easily be understood just by looking at charts;
For these reasons and hoping to give you a better help, I decided to write comments only when something very specific or interesting shows up, otherwise all the information is shown on the chart.
Thank you all for your support
🔎🔎🔎 ALWAYS REMEMBER
"A pattern IS NOT a Pattern until the breakout is completed. Before that moment it is just a bunch of colorful candlesticks on a chart of your watchlist"
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The content is The Art Of Charting's personal opinion and it is posted purely for educational purpose and therefore it must not be taken as a direct or indirect investing recommendations or advices. Any action taken upon these information is at your own risk.
SUN - Bullish Trade PlanAfter making a Higher High SUN had retraced lower to Support of $9.60, and have bounced off quite well. Price is above the 200SMA and 50SMA, indicating that its bullish. I think SUN should continue higher with targets as below:
TP1 - 10.70 (potential gain 4%)
TP2 - 10.96 (potential gain 6.5)
Stoploss - $9.50.
Please note these are my own notes, by no means trading advice. Please do your own research before entering into any trade.
Possible short opportunity 2 x bearish divergence on RSI / MFI indicator 1 x on stochastic with likely 2nd , directional candles trending down
suncorp ..... typical trend and correction details on chart...
breakout of descending trend line can be ending correction ...
buy after breakout
