The warning signs were visible since its fall on the 11th of June, that's if you have access to the right analysis. Many people jump into the stock market with very little knowledge on how to read the price action(Supply and demand), which is vital in both short and longterm investment/Trading.
Web shares have breached two major support level at 3.75 and 3.48 and...
Thanks to last week's upbeat economic data from the US and Australia especially, the momentum will likely carry through this week.
Today, Webjet violated the important $4.52 resistance level and I believe if the today's candle can hold above the level, Webjet will be poised for a bullish trend.
In terms of Australian economic data, this week is a quiet...
A Cup and Handle has been forming on the Daily since the 16th of March, with price breaking out from the handle and coming back to retest the resistance of the cup. Fits all the characteristics with decreasing volume in the middle and increasing on the way up, OBV is looking very good on the Daily, Weekly and Monthly.
Entry: $4.50
Stop Loss: $4.27
Target #1:...
WebJet - Price chart analysis
Share prices have pulled back to a critical retracement level at 3.04 and now attempting to hold as indicated in Friday's session. The primary support to keep an eye in the next week's session is around 3.04 and 2.90 and resistance level at 3.16 and 3.32.
The short to medium-term price trend is still intact as symbolized in the...
Couple of weeks ago when analysing some Oz Stocks one of the few who got our attention was Webjet.
WEB is a travel agency operating in Australia and New Zealand, with customers across global consumer and wholesale markets.
Fundamentals are still not great around the travel industry but the technicals on this instrument are suggesting a 200% rally aiming the 8.50$...
Strong buyers yesterday, with increase in volume that broke upper trend line of pennant pattern that is in an uptrend
Target based on leg length ( black) line that ties in with weekly supply area
Pennant pattern has formed on this potential pullback. The weekly time frame shows nice steady downtrend with expanding volume indicating the higher time frame has commitment of sellers to continue the downtrend.
Volume on the daily timeframe has contracted in line with a pullback forming the pennant pattern. Volume has began to expand at the end of the...
Take not on the support and resistance marked on the chart if you looking to short or already in a short position. 12.21 and 12.48 are the resistance to look out for. if it stays below 11.67 then you in the right direction
