This picture tells a lot. For the sake of simplifying the chart I have removed money flow which is also positive (as of the last few days).
If you look at extreme volume over the last few months, it has always occurred at the topside of a mean - that is, distribution. The downtrend abated on the 20th March (with supporting volume on the 17th and 20th enough to...
Looks like a very good asymmetric setup at 6.71 entry and with a juicy dividend coming your way. I can't see how this train could possibly be de-railed in 2023 even with intervention in the energy markets (and now with less La Nina events). Everyone dreams that their stocks might oneday be the cash machines that YAL actually is right now. Incredible results.
CPV is of interest right now. The macro environment for the ASX shows some bullish momentum building so there may be some appetite for some risk-on money into smaller cap/penny stocks.
I won't go into the fundamentals, but H1 2023 appears to be the timeframe for CPV to convert pipeline into virgin revenue. Their core offering - which is a patented clear solar...
The goldies have been moving recently but Emerald Resources has been somewhat resistant. It doesn't get as much attention as it deserves on the ASX but there's a lot to like about this company. All that changed this week, with EMR painting a strong weekly bar. Money Flow is off the charts and I'm happy with the Stochastics setup here. It's nice when you get a...
Champion Iron (CIA ASX analysis) has been in a long term consolidation pattern since July 2021. You can see that it has now been in the $7.80-$8 range for the third time.
The pattern appears to be an ascending triangle - either way, we are seeing higher lows and supply move in at $8. Importantly CIA has cleared an area of support/resistance between $5.50 and...
Beach Energy has found some legs in the last couple of week. I like what I'm seeing. It's coming off a very low base on the weekly stochastics and there's room to build some real long term momentum here.
BPT has an historic respect for the 1.70 to 1.80 zone that's acted as a major support and resistance zone for over a decade. Should BPT manage to trade...
RMS has broken through a longer term trendline with some bullish implications.
The price control line for the bars shown is at 1.715 and there has been significant trading here and through to 1.80 (seen by volume histogram on the right)
Buying volume has stepped in this week and Twiggs Money Flow looks set top pop above zero.
As well the Stochastics are showing...
Orora has a pretty neat cycle count. I don't like applying wave counts to specific stocks but the price action on ORA is quite tidy. I haven't gone into lower time frame counts so this is just a visual but the turning points do fit a "primary cycle" wave up followed by an ABC down. ORA could be at the start of a Primary 1 in a larger degree Wave 3 up. I really...
Divergence has appeared on the short term and long term Stochastics. It warns of a possible correction.
Supporting this possibility is the large step up in volume at $99 without a corresponding increase in price. So we know some distribution is occurring but where is support? There's no supporting volume until the $83 to$81 mark, so this may be the short term...
SFR has an interesting Descending broadening wedge formation, which you can interpret as corrective in nature within a larger trend. Some evidence to support a bullish posture here:
1. support and volume poured in near the price control value of $5.41.
2. There has been a lot of volume traded between $6.20 and $6.40 as well but a lot of the recent price action...
MRM looks primed for some upside again Abbas39. On the weekly I use two Stochastics to measure short term and long term interest.
The grey line represents short term interest/volatility and the blue line represents longer term strength/momentum (or lack thereof).
A good example is at "A" where there was short term interest, or a correction to the upside in an...
Bravura is testing support at the 2.80ish level for the 3rd time in the past 13months.Using LonsomeTheBlue's Divergence indicator you can see that BVS reacts quite decisively to major divergence points. Last week's close has thrown up divergence on 5 different indicators on the Weekly chart; this combined with a support level may be reason to throw this on your...
Not enough structure unfolded to allow a valid five wave count up to Complete Wave 3. My supposition is that we are still within Wave 3 of Intermediate Cycle 3 of Primary Cycle 3, which allows for more bullish action to commence shortly and carry us into 2019.
My preferred count for Cameco is that we are currently in Cycle 1 that may go on for some months yet. Within Cycle 1 we have completed an Intermediate Wave 1 in Jan 2017, and Intermediate Wave 2 in October 2017.
We are now in Intermediate Wave 3, and are completing a minor Wave3 right now. We then need to complete 4 and then 5 to complete higher degree...
If we accept that the Primary 5th wave was truncated by a black swan event, then we have a possibly correction that ended at Y. Shows potential to bottom out near $8.00.
5 to A
28.16
B to C
18.35
Nov 2016 Wave C has a length of at least 61.8% of wave A ( Oct 15.26% '11), gives 8.17 target. Actual 7.40
w1-3 = $53.96
w5 = $32.89
W5 often equals 62% of...
