Hi guys, hope everyone has been well.
Some chart updates from 2weeks ago:
https://hotcopper.com.au/threads/sh...ing-6th-aug.4338942/page-159?post_id=34851015
Failed:
MEI - Was shaping up okay but got sold into hard (highlighted on lower chart)
BLG - Very nice shape and breakout, but turned out to be fakeout. Lasted one day and dump switch was turned on.
Success:
ELS - Probably one of the cleaner moves. Nice push upwards and now pulling back on low volume again.
KRL - All that suspicious volume that caught my attention ended up being for the takeover. Would like to see it hold these levels and not show any volume.
AB1 - Gaming tech, looks like market still showing this one interest. Hourly chart continues pushing. Will be interesting to see direction from this point.
New Setups;
Been a struggle to post while trying to juggle uni, so most charts I do have are hindsight now, but have watched thread and noticed plenty of the ones I've looked at being covered by Gamefisherman.
Here's one I am liking which is worth watching ST for a push.
TER - Each push on high volume, then consolidation. Currently in consolidation phase. Also was covered by GF from memory.
Macro:
XEC - Sitting on LT support now. Will look for a turn around from here (given recent performance of XJO and XSO) and wouldn't want to see it drift lower.
XSO - About to test highs, looking incredibly strong. Very good moves last two days. Will watch for it to tighten up near resistance.
XJO - Sold off last couple days. But overall trend undeniable. Also given DOW is also near highs.
Funnily, we should also have a new Prime Minister this arvo. Will be interesting to see how markets react there and if any volatility comes through.
Trump also having legal issues with Cohen pleading guilty to fraudulent activities under the instruction of Trump. Anyone with a legal background or close to the action know what are the chances of impeachment looking like, or what could happen from here?
@Diver Dan could help perhaps? My gut tells me Trump will somehow snake his way out of this one.
I've been throwing in some bids on couple shells, could be a risky move given the state of governing going on. Will attempt to post some Fundamental stuff in near future.
Cheers
(20min delay)