Australian (ASX) Stock Market Forum

Pixel's Picks - potential trend reversals off the bottom

pixel

DIY Trader
Joined
3 February 2010
Posts
5,359
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334
EHL, bucked yesterday's Market trend and continues today.

so much for that idea: EHL only made it to the 2nd gradient (next flatter falling resistance trend line), but could not break through.

EHL 18-12-14.gif
 

pixel

DIY Trader
Joined
3 February 2010
Posts
5,359
Reactions
334
Today's scan suggests I watch ORG:

ORG nTrinity 02-02-15.gif

Momentum is turning positive; Volume has been improving in recent weeks; and the last two Lows are matching closely enough to be considered a Double Bottom.
There is still the risk of a further fall in the oil price, which could take ORG back down with it; therefore, I'll start with an Intraday chart and a tight stop at $10.78. First target $11.90.
 

pixel

DIY Trader
Joined
3 February 2010
Posts
5,359
Reactions
334
Today's scan suggests I watch ORG:

Momentum is turning positive; Volume has been improving in recent weeks; and the last two Lows are matching closely enough to be considered a Double Bottom.
There is still the risk of a further fall in the oil price, which could take ORG back down with it; therefore, I'll start with an Intraday chart and a tight stop at $10.78. First target $11.90.

The Overhead gap has almost been closed: only 9.5c short of the top; it leaves the door open for another leg up towards $13.50, but this trade is finished for now - still comfortably above my "first target".

ORG 20-02-15.gif

Alerts are now set at the two lower gaps.
 
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