June 2014

June 5th

The following are on my shopping ‘hit’ list for next week if this bullish momentum continues. Some of the ideas involve waiting for possible breakouts above key levels or from various technical patterns:

AMP: looking for a weekly hold above the $5 level:

AMPweekly

LEI on any break above the weekly 200 EMA:

LEIweekly

QAN: on any close and hold above the $1.50 level:

QANweekly

TOL: on any channel breakout:

TOLweekly

WPL: looking bullish as it holds above the $40 level. 

WPLweekly

AWE: just looking to get in here:

AWEweekly

LYC: on any wedge breakout:

LYCweekly

SGM: on any bullish triangle breakout:

SGMweekly

SGP: on any weekly hold above the $4 level:

SGPweekly

ALL: on any break and hold above $6:

ALL

MCR: on any weekly hold above $1:

MCRweekly

These are breakouts that I missed at the time but that still have some possible room left to run:

BEN:

BEN

BOQ:

BOQ

BXB:

BXBweekly

June 4th

QANTAS: QANTAS has struggled over recent years but the stock chart is suggesting that the tide might be turning here for the airline. The weekly chart shows that a long term trend line was recently broken and this seems to suggest a change in polarity here. A second shorter-term trend line, that is also in line with the weekly 200 EMA, might soon come under some pressure as well. The other level that seems quite significant here is the $1.50 level:

QAN weekly

QANweekly

The daily chart shows that the recent trend line break came along with a new TC signal BUT I missed it! I will wait to see if QAN can break the $1.50 resistance and I will enter on any close and hold above the $1.50:

QAN daily

QAN

June 2nd

Being the first trading day of the new month I thought I’d note a few Aussie stocks that have caught my interest as they trade at key levels.

XJO: the ASX 200 made a bullish close last Friday to finish the week, and the month of May, above a key S/R level. The index closed above the 5,480 level and this had been a bit of a battle ground level for the index. The Aussie market has lagged the broader global markets in post GFC recovery efforts and this bullish close has given me confidence that we will see the 6,000 (78.6% fib) level as the next target here:

XJOweekly

XSO: this ‘small cap’ Aussie market index is still forming up within a symmetrical triangle and I’m watching for any potential breakout here:

XSOweekly

SUN: I’m watching for any bullish close above the $14 level:SUNweekly

TOL: watching for any breakout from the bullish descending wedge:

TOLweekly

 

WPL: looking rather bullish now that the triangle has broken and key resistance of $40 has been broken as well:

WPLweekly

AMP: on the lookout for bullish continuation here after the recent triangle break:

AMPweekly

LEI: any move back above the weekly 200 EMA would support bullish continuation here:

LEIweekly

RIO: watching for any triangle breakout:

RIOweekly

STO: also watching for any triangle breakout here:

STOweekly