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ASX

BST @ 6 OCT 2021Text me if you have any questions/comments for me. ----- BST - Previous analysis was done on 4 Oct - Suggested waiting for a successful rebound at 3.45 levels before plotting entry - Today, the stock reached a high of 3.41 before breaking and closing below the short-term support - Today’s retracement is interesting as there is a potential of a good entry opportunity if the stock successfully rebounds - A successful rebound look to be around 3.30 levels - R is borderline 10% - Strategy-to-buy (DYOR) – Suggest waiting for a successful rebound before plotting entry
B
by Jerm88
CAR @ 6 OCT 2021Text me if you have any questions/comments for me. ----- CAR - Previous video analysis was done on 30 Sep - Suggested waiting for successful rebound to $26 levels before plotting entry - Instead, the stock continued to show weakness and has now closed below the mid-term support - If the structure has yet to break, there definitely is a big tear in the trend - Any further drop below $24 would constitute a structure break - Strategy-to-buy (DYOR) – Suggest waiting for a series of HHs and HLs to form
ASX:CAR
by Jerm88
RDY @ 6 Oct 2021Text me if you have any questions/comments for me. ----- RDY - First time doing a written analysis on RDY - Currently trading near all-time high regions - Uptrend started to form since end-March 2021 - Stock is outperforming the market -> Recent market downtrend has not affected the stock - Current test of the short-term support looks to provide another opportunity for entry - A successful rebound look to be around 3.50 levels - R is less than 10% - Strategy-to-buy (DYOR) – Suggest waiting for a successful rebound before plotting entry
ASX:RDY
by Jerm88
BMM @ 6 Oct 2021Text me if you have any questions/comments for me. ----- BMM - First time doing a written analysis on BMM - Recently IPO-ed in mid-July – experienced a few weeks uptrend but the uptrend looks to have ended - A series of LHs and LLs have formed - Stock is currently testing the mid-term support - A successful breakout of a counter-trendline (blue dotted line) would make the stock interesting again - R is more than 10% - Strategy-to-buy (DYOR) – Suggest waiting for a series of HHs and HLs
ASX:BMM
by Jerm88
ASX 200 @ 5 October 2021 5 Oct 2021 – Market Watch The last time I did an analysis on the ASX 200 was on 27 September (red arrow). I mentioned as long as the index doesn’t experience a successful push to 7500 levels, I would likely trim positions instead of collecting new ones. With uncertainties stemming from the twin events of the US debt ceiling and Evergrande, the ASX 200 has tested the lower boundary (7150 levels) of the support zone (highlighted in blue). Even though the index closed with a pin bar and on the upper boundary (7250 levels), I still think it’s too soon to say that this is the end of the bleed. As I mentioned on Sunday’s FB livestream, I am expecting the next 2-3 months to be a difficult period to trade. US President Biden has voiced out his pessimism of being able to raise the debt ceiling. If that is unsuccessful, will the printing of money end? Whether you like it or not, the global equity markets have benefitted from this additional liquidity and the thoughts/fears of even turning off the tap can send markets crashing. Evergrande finding a majority buyer for one of its subsidiaries has injected some confidence into the markets; at least for the near term. I still think more needs to be done to restructure the huge debt but I’m cautiously optimistic that the Chinese government will step in. As it is, there is already a directive to government-linked companies to do all they can to help out Evergrande. Reading between the lines, this usually means buying the distressed assets of Evergrande. To get more of my commentary on Evergrande, you can watch the livestream recording (text me for the link) starting from the 16-min mark. I have exited almost all of my positions last week and I am only left with one stock. Will I buy more? I am evaluating 1 or 2 possible buying opportunities, but I am not anywhere close to pulling the trigger yet. I don’t subscribe to the diamond hands philosophy, especially when it comes to my trading portfolio. Thus, I prefer to be very selective in this uncertain period. How about you? Are you collecting more stocks now? Or are you keeping your powder dry and buying in when the retracement has ended, and signs of market rebound has appeared? If you find this market analysis helpful, let me know in the comments. May the markets continue to be with us! Disclaimer:- I’m a mid-term trader and I hold my stocks between 1-3 months. I’m using Trend Following strategies and my analysis will be from a perspective as a Trend Follower. I’m sharing these analyses for learning purposes and as always, DYOR.
ASX:XJO
by Jerm88
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UNI @ 4 OCT 2021Text me if you have any questions/comments for me. ----- UNI - First time doing a written analysis on UNI - Stock has had a good uptrend since IPO before hitting the psychological resistance (purple dotted line) - Today’s price action looks like a successful breakout, but the lack of volume is odd - Usually, a breakout is accompanied with strong trading volume - R is borderline 10% - Strategy-to-buy (DYOR) – Suggest entry around current levels if believe the breakout will continue
ASX:UNI
by Jerm88
NVX @ 4 OCT 2021Text me if you have any questions/comments for me. ----- NVX - Previous analysis was done on 8 Sep - Suggested waiting for stock to retrace and successfully rebound - In last night’s FB livestream, I said that price is overextended and suggested waiting for a retracement first - Today, the stock retraced strongly to fall below the short-term average - Technically, the short-term average hasn’t been tested since end-July and it doesn’t look like it’s a good support - From the charts, a successful rebound look to be around 6.60 levels on the condition that the stock doesn’t retrace further - Stocks that have retraced strongly usually will form a LH first before the uptrend can continue healthily - R is more than 10% - Strategy-to-buy (DYOR) – Suggest waiting for the next rebound wave
ASX:NVX
by Jerm88
GNC @ 4 Oct 2021Text me if you have any questions/comments for me. ----- GNC - First time doing a written analysis on GNC - Stock is currently trading at a resistance that was formed during the height of last year’s pandemic crash (purple dotted line) - Since then, the stock has had more sideways consolidation interspersed with uptrends that last for a few weeks - Stock is bounding around the short-term support and a successful rebound from here will provide an opportunity for entry - A successful rebound is around 6.60 levels - R is less than 10% - Strategy-to-buy (DYOR) – Suggest waiting for a successful rebound before plotting entry or waiting for a successful breakout of strong resistance
ASX:GNC
by Jerm88
BST @ 4 OCT 2021Text me if you have any questions/comments for me. ----- BST - First time doing a written analysis on BST - Stock re-started trading in late July - Since then, has had a 50% increase with nice uptrends - A nice test of the short-term average and a successful rebound will present a good entry opportunity - Stock volume is roughly less than 100k -> Illiquid stocks could mean that the stock may have sudden strong movements - Price action over the last 2 months shows quite healthy price volatility - A successful rebound close to 3.45 levels would represent a successful rebound - R is borderline 10% - Strategy-to-buy (DYOR) – Suggest waiting for a successful rebound before plotting entry
B
by Jerm88
ABB @ 4 Oct 2021Text me if you have any questions/comments for me. ----- ABB - First time doing a written analysis on ABB - In last night’s FB livestream, I suggested a breakout entry if believe the stock was capable of forming new all-time highs - Today, the stock created a new ATH but quickly retraced to form a bearish pin bar - Historically, the stock has had periods of uptrends interrupted by long periods of sideways consolidation - Stock is currently trading a resistance zone (blue highlighted zone) - A breakout entry would mean entering at a price that is far from the short-term support - Due to today’s bearish pin bar with above average volume, the entry for setup is on the risky side - R is more than 10% - Strategy-to-buy (DYOR) – Suggest waiting for a better setup for entry
ASX:ABB
by Jerm88