AIA has been trading in a descending channel for a couple of months – probably an Elliott Wave 4 I expect. It has broken out of that retracement and if that is into a Wave 5 it should take price back to at least the previous high of $9.45 but depending on how long it takes to get there the top of the long term channel suggests a peak closer to $10.
I bought in earlier when I thought price might break $8.70 but it didn’t and bounced off the resistance level to come back and test it again this week. Today it broke and closed above that level with volume so I have an initial short term target of $9.10, and as a short term trader I will probably take profit at that level.
There’s a time line around the 14th November and as this stock seems to respond to time lines I’d expect to see some reversal around that time - and that may coincide with price reaching my target (hopefully).
As mentioned in another post I’m a newcomer to HC and looking at the threads on this forum it seems the principle interest of members is low value stocks. For what it is worth I think buying cheapies looking for the big hit is a false economy. Nice when it comes off but I sleep easier trading stocks with good volume and value north of $0.10.
- Forums
- Charts
- AIA
AIA has been trading in a descending channel for a couple of...
-
-
- There are more pages in this discussion • 5 more messages in this thread...
You’re viewing a single post only. To view the entire thread just sign in or Join Now (FREE)
Featured News
Add AIA (ASX) to my watchlist
|
|||||
Last
$7.07 |
Change
0.110(1.58%) |
Mkt cap ! $10.35B |
Open | High | Low | Value | Volume |
$6.96 | $7.08 | $6.95 | $972.2K | 138.5K |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
15 | 2317 | $7.06 |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
$7.07 | 2398 | 4 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
13 | 5704 | 7.040 |
9 | 7290 | 7.030 |
8 | 17790 | 7.020 |
4 | 2781 | 7.010 |
5 | 9486 | 7.000 |
Price($) | Vol. | No. |
---|---|---|
7.060 | 2099 | 6 |
7.070 | 7020 | 7 |
7.080 | 15181 | 7 |
7.090 | 7000 | 4 |
7.100 | 3466 | 6 |
Last trade - 11.57am 12/07/2024 (20 minute delay) ? |
Featured News
AIA (ASX) Chart |