Australian Sharemarket Traders Report May 26th

JB Hi-Fi (JBH) : In a strong up-trend with the formation of a pennant and breakout candle close above upper pennant resistance triggers long setup.

JB Hi-Fi (JBH)
JB Hi-Fi (JBH)

 

 

Qantas (QAN) : Has retraced from recent highs in an orderly fashion. I’m looking for a breakout from the upper line resistance to trigger a long setup trade.

Qantas (QAN)
Qantas (QAN)

 

 

Woodside Petroluem (WPL) : After a sustained downtrend this has moved sideways and looks ready to breakout from resistance of $36.80.

Woodside Petroleum (WPL)
Woodside Petroleum (WPL)

 

 

Cooper Energy (COE) : Early up-trend with higher highs and lows and the 20 day ema is bullish.

Cooper Energy (COE)
Cooper Energy (COE)

 

Happy Trading

Flavio

ASX Traders Report March 16th

All Ords Index : Retraced last week and challenged the 5,700 support level. Prices are now trading under the 20 day moving average which has turned slightly downwards.  A further pullback to the 5,700 is possible before we see a resumption of the up-trend. The index is still trading well above the longer term 50 day moving average.

All Ords Index
All Ords Index

 

 

Domino Pizza (DMP) : looking for a breakout from the upper trend-line.

Domino's Pizza (DMP)
Domino’s Pizza (DMP)

 

 

M2 Group (MTU) : resistance breakout and new high, well supported by the 20 day moving average.

M2 Group (MTU)
M2 Group (MTU)

 

 

Mantra Group (MTR) : Ascending triangle resistance breakout for a strong technical pattern long trade possibility.

Mantra Group (MTR)
Mantra Group (MTR)

 

Happy trading

Flavio

Wall Street Traders Report January 7th

The US market has retraced over the past few weeks after reaching all time highs at the end of last year. The S&P500 index below shows this retracement with the price just holding above 2000 points. Further decreases lower are possible with the support level of 1972 in close vicinity which may hold further declines.

S&P500 Index
S&P500 Index

 

Newmont Mining (NEW)

Bottom consolidation with a possible double bottom formation. I’m waiting for a breakout above the resistance of $20.50.

Newmont Mining (NEW)
Newmont Mining (NEW)

 

Monster Beverage Corp (MNST)

Ascending triangle and it’s trying to breakout above resistance. This will be my long trigger signal.

Monster Beverage Group (MNST)
Monster Beverage Group (MNST)

 

Home Properties (HME)

Long setup with a resistance breakout on good volume. Stops can be placed under the recent support of $65.50.

Home Properties (HME)
Home Properties (HME)

 

Extra Space Storage (EXR)

Long setup with a resistance breakout on good volume. Stops could be placed under the most recent pivot low of $58.50.

Extra Space Storage (EXR)
Extra Space Storage (EXR)

Traders Report November 20th

Traders Report November 20th

All Ords Index

The Australian sharemarket had another bearish day with the index losing one percent. In yesterday’s article I showed the index was trading at the support level of 5350 and that this would prove an important level for future price movements. Today’s losses resulted in the index penetrating this support level and closing at its lows and in the process forming a long bearish candle.

The 20 day moving average has crossed below the 50 day moving average which is another bearish signal. Looking forward it is possible that the bearish sentiment will continue and the next support level of 5120 comes into range. In my opinion the market is headed lower in the medium term. Any rise in prices is probably going to be met with resistance at the August pivot low of 5420.

At this stage I am staying clear of any long position trades on the Australian sharemarket and have therefore not provided any trade suggestions for specific shares.

Flavio

All Ords Index
All Ords Index

Traders Report November 19th

Traders Report November 19th

Australian shares have fallen for the third day in a row. The technical’s show that the index fell straight through the support level of 5420 and closed at it’s low today of 5352. This level was the support low seen in April to June. If the price falls through this price level then it is likely to signal further weakness and the index could then begin to fall all the way down to the low’s seen in mid October.

In contrast the US markets are continuing it’s bullish run with the S&P500 index making a new high overnight. It is clear that the Australian market is trading independently of the larger US market and is failing to follow it’s lead. This may signal that investors and traders are bearish about Australian market conditions and see better value in other markets. A pull back in the S&P500 index is likely to be supported at the resistance level of 2020 points.

I am neutral at present and not entering any long trades on the Australian market until I see evidence of the support level at 5350 holding and retracing above 5420.

Happy Trading

Flavio

All Ords Index
All Ords Index

 

S&P500 Index
S&P500 Index

Wall Street Traders Report July 4th

Wall Street Traders Report July 4th

Goldman Sachs (GS)

The Goldman Sachs Group, Inc. is global investment banking, securities and investment management firm that provides a wide range of financial services to a substantial and diversified client base that includes corporations, financial institutions, governments and high-net-worth individuals.

The chart below shows it’s share price over the past seven months. The downtrend was broken in mid June with prices consolidating above the 200 day moving average. Over the past fortnight the price has retraced to form a bullish wedge. Yesterday saw a bullish candle breakout from the wedge pattern. This is my signal to enter a long position trade.

On this setup I will look to go long at a price of $168.00 with a stop-loss under the wedge low of $166.00. My initial target will be the resistance high from March of $175.00.

Happy Trading

Flavio

Daily Chart Goldman Sachs (GS)
Daily Chart Goldman Sachs (GS)

 

 

Wallstreet Traders Report June 11th

Wallstreet Traders Report June 11th

Facebook (FB)

Shares in the social media giant Facebook (FB) increased 4.6% at the close of trading on Tuesday. This increase was on the back of the announcement  a PayPal head will join the company to head it’s messaging products division.

The share price below shows the recent price action with a strong breakout from recent congestion. The breakout occurred on relative strong volume which adds to the bulls conviction to rise the share price.

Traders can look at entering a long position with a target price close to the March high of $72.00. Stops can be placed under the most recent congestion low of $62.00.

Happy Trading

Flavio

Daily Chart Facebook (FB)
Daily Chart Facebook (FB)

 

 

Wall Street Traders Report June 9th

Wall Street Traders Report June 9th 

General Motors Company (GM) 

General Motors Co. is an automobile company, which develops, manufactures and markets cars, trucks and parts worldwide.

The technical chart setup is detailed and explained below.

Chart 1: General Motors
Chart 1: General Motors Co.

Technical Pattern: Inverse head and shoulders with prices trading above the 200 day moving average.

Signal: Breakout from neckline resistance three trading days ago. Friday’s candle shows a rejection of the neckline resistance which has now turned to support.

My Trade Strategy: to go long on the open of the market provided the price open’s above $36.00 with my stop loss just under the 200 day moving average (approx $35.20)

Happy Trading

Flavio