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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. With [...]

XAO Short Term Resistance?

Sunday, May 31st, 2009

 
The XAO had a fairly flat week this week, by gaining any losses and loosing any gains made.
There is a small pennant formed on the daily chart by the indecision of the buyers and sellers. Still being held up by the six month up trend line, the index is getting squeezed in by the short [...]

Westfarmers Broken Past a Major Weekly Support Line

Monday, May 18th, 2009

WES (Westfarmers Limited) has broken through some significant points of support this week. If we take a look at the weekly chart, we should be able to get an overview of how we would expect the stock to behave in the coming weeks.
Peaks and Troughs are key indications for chart reading. When Lower Peaks (LP) [...]

Japanese Candlestick Pattern

Saturday, May 16th, 2009

The XAO has now confirmed 3900 resistance from 2005 to still be valid.
By respecting the resistance this week, a powerful Japanese Candlestick Pattern has formed. The Dark Cloud Cover.  What is a Dark Cloud Cover?
The Dark Cloud Cover Pattern is a bearish reversal pattern,  found at the top of an uptrend. It is a two-candle [...]

AWC Fibonacci Retracement Level

Wednesday, May 13th, 2009

Like many other stocks AWC is one that hit all time lows in the crash of the market. But again like many other stocks it is now showing possible signs of recovery.
After hitting a low of $0.79 in March 2009, the weekly chart has now made the first set of Higher Peaks (HP) and Higher [...]

XAO Bull Run?

Saturday, March 28th, 2009

 
The XAO has had 3 weeks of a bull run….Does this mean a bottom as it broke some resistance levels spoken about in the last analysis that was done?
After the last 2 weeks and some significant resistance lines being broken, it was time to take a look at the weekly chart on a fresh. The [...]

CBA Forming Inverted Head and Shoulder Pattern

Friday, March 20th, 2009

CBA has started to show some strength of late with a bearish reversal pattern on the weekly/daily chart. Just as a Head and Shoulder(H&S) pattern is a reversal for a down trend about to start, an Inverted H&S is a reversal for an up trend about to start.
CBA has currently met the resistance of the [...]