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ASX Extremely Oversold Friday Afternoon Short SqueezeLooking for sellers to take profit and bargain hunters to squeeze this heavily sold Australia stock index into the close Friday or for Pop higher Morning if US stocks can Bounce. In large sell offs Friday are profit taking days for sellers and this naturally causing some buying as they close short positions and in the fallout there are some stocks that are bought on dips that help the whole index rally. Some good news would help but technically its sets up some excellent 3-1 and 5-1 risk rewards. easyMarkets Account on TradingView allows you to combine easyMarkets industry leading conditions, regulated trading and tight fixed spreads with TradingView's powerful social network for traders, advanced charting and analytics. Access no slippage on limit orders, tight fixed spreads, negative balance protection, no hidden fees or commission, and seamless integration. “Any opinions, news, research, analyses, prices, other information, or links to third-party sites contained on this website are provided on an "as-is" basis, are intended only to be informative, is not an advice nor a recommendation, nor research, or a record of our trading prices, or an offer of, or solicitation for a transaction in any financial instrument and thus should not be treated as such. The information provided does not involve any specific investment objectives, financial situation and needs of any specific person who may receive it. Please be aware, that past performance is not a reliable indicator of future performance and/or results. Past Performance or Forward-looking scenarios based upon the reasonable beliefs of the third-party provider are not a guarantee of future performance. Actual results may differ materially from those anticipated in forward-looking or past performance statements. easyMarkets makes no representation or warranty and assumes no liability as to the accuracy or completeness of the information provided, nor any loss arising from any investment based o n a recommendation, forecast or any information supplied by any third-party."
EASYMARKETS:ASXAUDLong
by easyMarkets
Long Santos #STO #ASX # ASX200 # Trading #breakoutHi all, An ascending triangle is classified as a continuation chart pattern. Continuation patterns are expected to lead to the continuation of an existing trend. While the ascending triangle is considered a bullish continuation pattern, exceptions are quite possible. It’s not infrequent to see it develop in downtrend conditions. Breakouts can also happen in both directions. Statistically, upward breakouts are more likely to occur, but downward ones seem to be more reliable. Price is in an interesting area here. Strong resistance around 8.4 Depending on your strategy offers a great RR. Regards,
ASX:STOLong
by TheCoinsofCharon
1
ASX200 support remains from 6910Hi all, this morning, it's hard not to notice 6910 support on the ASX200 daily chart. Sellers once again breached the level but have again been unable to hold the break with buying developing in today's cash session. We see this level as key support as it has held firm since April 2021. Green circles show the amount of times sellers have been unable to break the level since April. Interestingly, we've seen four moves higher after a level test. Today's idea is not a buy or a sell, it's more of a heads up. We will be watching this level to see if any further ideas develop.
EIGHTCAP:ASX200
by Eightcap
FLT:ASX The current situationA friend owns FLT . He was looking for some information as to whether he should hold (without disclosing his entry price), so here's my explanation. Note : It makes it a lot easier to 'tell someone whether they should hold or sell' if I know the entry price. Why? Because trading profitably is about consistently cutting your losses quickly, and holding on to (or even doubling down during a pull back buy opportunity) your winners. If you do just that right, you can win with a very low ratio (E.g. Picking only 40% calls, correctly etc.) The case for: FLT's price is currently above it's 55 EMA (my favourite EMA to use - see orange line), and we're talking MONTHLY EMA. It's also just breaking out, and holding (so far) above the downwards trend line. Furthermore, during this blood bath going on (for many many stocks, ASX or not), it's holding above it's upward diagonal trend line. If you look at the 55 Monthly EMA, and both trend lines mentioned above, you'll notice that as long as the price holds above ~$17.60 approximately, it's still a HOLD (if in already). Would I be actively buying here? Depends. If there's nothing else to buy, maybe take a small pilot position here, however given the VIX is peaking and the entire market is a bit crazy, it's hard to tell. Fibonacci levels* = DEF do not hold under $16.00. High risk of strong support there that, if breached? GNITE Some questions (and risks) to fundamentally consider: Could there be further international lockdowns? This would be bad (unless FLT focuses on local and domestic travel, which may be allowed) Petrol prices' effects on flights and operating costs? If Ukraine/ Russia war continues, as well as other issues, and petrol keeps going up = this could be bad Recession risk? If people are losing jobs (Carvana for example, even though the car market is ridiculous = can't get stock. So what do they do? Lay off people and buy online auction platform.**) they're less likely to take holidays for obvious reasons. *Fibonacci levels drawn, using 'all time high' price and 'all time low' price (this is how I draw my fibonacci levels - they stay objective this way, and are applicable whether you're looking at a normal chart or log chart - so that's good!) **This is why I refused to sell EVAuctions and other car domain names I own btw (for anyone who knows me and is reading this LOL). I saw this coming. Thanks for reading! [ Tendie.com coming soon ]
ASX:FLT
by wedembois