Day traders' weekend lounge October 13 - 15, page-42

  1. 14,364 Posts.
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    Gees I miss @mirren morning sector charts, they were so good in giving a fast indication of short term direction. Appreciate it was a huge workload.

    Just doing some homework in prep for this coming week. Gees there's going to be a smorgasbord of Lithium stocks primed for a run but the sector continues to print lower highs and lower lows and a 50ema struggling to maintain it's position above the 200.
    Volume has also fallen in the sector but I hear we're not supposed to work with volumes. (what a joker). An increase in volumes over numerous weeks will be a great indicator of a sector reversal IMO.

    https://hotcopper.com.au/data/attachments/5655/5655240-7a5c9f4503d2414e1fce30d5595a6a95.jpg

    BIO sector is similar except appears more advanced with a tightening range and spurts of volume increasing. Kind of teasing everyone. Again the ASX is riddled with BIO stocks primed for a run. IMO.

    https://hotcopper.com.au/data/attachments/5655/5655264-5bddfa2e795e140d974993ac53cfc98c.jpg

    Obviously these are weekly charts therefore the DT opportunities aren't displayed here but I'm sure you get my drift. When these sectors reverse it's game on IMO.

    Cheers.
    Last edited by slick: 15/10/23
 
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