My primary count is that is forming the right shoulder of an inverse head and shoulders and should find support at $14000 $14300 area before making a new ATH around $17300 but as I said this is a whipsaw market which is typical of market tops so a hedging strategy is in order.
Traders on Nvidia got stopped out buying the double bottom breakout and then those going short on the failure got whipsawed as it traded above the neckline and those buying the second breakout got stopped out again. Very dangerous market for unhedged traders.
Leadng stocks on Hang Seng like Baba Tencent and JD look to have considerable upside so if I was short NDX I would hedge with dip buying in HSI
My primary count is that is forming the right shoulder of an...
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Last
$1.70 |
Change
-0.090(5.04%) |
Mkt cap ! $1.909B | |||
| Open | High | Low | Value | Volume |
| $1.74 | $1.78 | $1.69 | $129.7M | 75.80M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 4 | 93847 | $1.69 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $1.70 | 556968 | 2 |
View Market Depth
| Last trade - 16.10pm 19/07/2024 (20 minute delay) ? |
| ZIP (ASX) Chart |