Archive for June, 2009

XOA Showing Signifacant Bullish Signal

Monday, June 29th, 2009

Early in the week, the XAO had heavy moves to the down side but managed to gain back most of the losses by the close of session Friday. In all the talk about how far the market could fall, was there signs it would be small lived? As seen in the daily chart below the [...]

CTX Pull Back?

Friday, June 26th, 2009

CTX has been pushing higher since December 2008, but has been pushed back down by a significant resistance at around $13.00. Is this a healthy pull back or a sign of the bullish trend ending. After a sharp run up CTX met a resistance level at around $13.00 in May and is now pulling back. [...]

Buyers Coming into JHX

Thursday, June 25th, 2009

When considering a position in the Market, know if the buyers or the sellers are in control, is key. Technical Analysis techniques can help us determine who has the control. Peaks and Troughs is a very powerful tool to use when looking at who is in control. Higher Peaks and Higher troughs tells us the [...]

XAO Uptrend Channel Continuation

Sunday, June 21st, 2009

This week saw the XAO pull back strongly off the top off the current uptrend channel. Will next week continue the pull back or is there enough support to have it bounce back. The pull back this week is a continuation of the uptrend channel. This was stronger than the previous support level at 3900. [...]

TOL Forming a Double Bottom?

Sunday, June 21st, 2009

TOL has been making consistent Higher Peaks and Higher Troughs in a channel since the beginning of March. Now at a significant support what could be the next possible target for this stock? A potential Double Bottom could forming on the $6.45 weekly support line. Should this be validated with another Higher Trough it is [...]

XAO Now in an Up Trend Channel

Friday, June 19th, 2009

April saw the XAO break the 12 month down trend. Where is the next significant resistance we are likely to see a pull back. After breaking through resistance at 3700 and the 12 month down trend, the XAO has now formed an up trend channel. The next major resistance is an intersection of the over [...]

LLC Makes a Head and Shoulder Pattern

Friday, June 12th, 2009

LLC has been channelling down since February 2008. Now the stock ha broken free from this channel what can we expect? Late March of this year LLC broke out of a 16 month down trend channel to form the right hand shoulder of an Inverted Head and Shoulder pattern (INH&S). The neck line is at [...]

Harvey Normal Turning Bullish?

Monday, June 8th, 2009

  HVN (Harvey Norman) is looking stronger in the weekly chart, with indications the Bulls are back in control. After breaking free of the down trend channel that has been valid for 12 months, not only was the first Higher Peak (HP) formed but this week’s closing bar was a confirmation of a Higher Trough [...]

ANZ Finding Support?

Tuesday, June 2nd, 2009

ANZ this week has shown confirmation that the buyers have taken control after  18months of the bears dominating. For 18 months ANZ has been in a strong down trend channel. In March this channel was breached and ANZ ran to the next resistance at $17.50. From there the stock retraced 50% to the support level [...]