• Australian (ASX) Stock Market Forum

Hello and welcome to Aussie Stock Forums!

To gain full access you must register. Registration is free and takes only a few seconds to complete.

Already a member? Log in here.

XAO Technical Analysis

Discussion in 'ASX Stock Chat' started by kennas, Oct 27, 2006.

sentifi.com

Aussie Stock Forum Sentifi Top themes and market attention on:

  1. Porper

    Porper Ralph Nelson Elliott

    Posts:
    1,355
    Likes Received:
    133
    Joined:
    Aug 11, 2004
    This is the weekly XJO although same patterns/analysis as XAO.

    Corrective pattern higher unfolding i.m.o. It would take a break above 6490 to be more bullish.XJO.gif
     
  2. Trembling Hand

    Trembling Hand Can be found on the bid

    Posts:
    8,852
    Likes Received:
    181
    Joined:
    Jun 10, 2007
    So the SPI has broken out. You will not see this on the XJO and Aussie CFD because of the Divs from CBA etc But shorts will be taking heat and SPI momo models could take off here,

    Screen Shot 08-17-17 at 09.29 AM.PNG
    The strong AUD and TLS could stink this up I guess..
     
    TLS likes this.
  3. Gringotts Bank

    Gringotts Bank

    Posts:
    6,163
    Likes Received:
    577
    Joined:
    Jun 30, 2007
    Maybe today's the day. With all the fakeout-breakouts, better wait til close I guess. Unless there's an afternoon rush. If it does close above the line, I still like 5884 as the initial Ords target.

    x.jpg
     
    TLS likes this.
  4. skyQuake

    skyQuake

    Posts:
    2,904
    Likes Received:
    45
    Joined:
    May 1, 2007
    False brk imo.

    As an aside, What do people look at most for charting? The futs or the index?
     
  5. Gringotts Bank

    Gringotts Bank

    Posts:
    6,163
    Likes Received:
    577
    Joined:
    Jun 30, 2007
    Ords definitely more reliable regarding breakouts and targets. Can't trade it but that doesn't matter.
     
  6. Trembling Hand

    Trembling Hand Can be found on the bid

    Posts:
    8,852
    Likes Received:
    181
    Joined:
    Jun 10, 2007
    How do you quantify that?
     
  7. Gringotts Bank

    Gringotts Bank

    Posts:
    6,163
    Likes Received:
    577
    Joined:
    Jun 30, 2007
    I've compared them for a specific trendline technique I use. When used on the Ords, the targets are often met exactly. When used on the CFD, it's close but vague. Sometimes they mirror each other.

    But the CFD broke out yesterday and the retrace today didn't really line up with anything that I could see. Ords is still under the line at today's close - that's quite a difference.
     
  8. Gringotts Bank

    Gringotts Bank

    Posts:
    6,163
    Likes Received:
    577
    Joined:
    Jun 30, 2007
    Buying opportunity imo.
     
  9. skyQuake

    skyQuake

    Posts:
    2,904
    Likes Received:
    45
    Joined:
    May 1, 2007
    Why not a selling opp?
     
  10. Porper

    Porper Ralph Nelson Elliott

    Posts:
    1,355
    Likes Received:
    133
    Joined:
    Aug 11, 2004
    Strong close but the risk is down for me. The banks have bounced following a strong impulsive leg lower into the 50% - 61.8% retracement zone. This suggests further weakness to come over the coming months.

    The Small Ords (XSO) is approaching the upper boundary of the consolidation pattern that commenced at the beginning of the year. It has also chopped its way higher indicative of a corrective pattern.

    Shorting opportunities in the big four for the brave.
     
  11. Logique

    Logique Investor

    Posts:
    4,084
    Likes Received:
    500
    Joined:
    Apr 18, 2007
    Congratulations to anyone who can make sense of the current XAO.
    To be honest, in recent months it had begun to resemble a bullish triangle to me.
    But let's see overnight if it will be rescued once again from the 200EMA - US Futs not so good, but there's still a few hours until US market opens
    XAO_29Aug2017_mark_80.jpg
     
  12. SuperGlue

    SuperGlue

    Posts:
    397
    Likes Received:
    34
    Joined:
    Nov 1, 2009
  13. traderxxx

    traderxxx

    Posts:
    48
    Likes Received:
    1
    Joined:
    Feb 12, 2017
    interesting last few days, mr calc says spi should be trading
    back at 5704 this week, so lets see how that pans out.
    would like to see a bottom at 5576 5567 (cant remember which)
     
  14. Gringotts Bank

    Gringotts Bank

    Posts:
    6,163
    Likes Received:
    577
    Joined:
    Jun 30, 2007
    Yesterday saw the breakdown from the big wedge. A close outside of the lines - first in months. South Korea readying for conflict.

    x.jpg
     
  15. Gringotts Bank

    Gringotts Bank

    Posts:
    6,163
    Likes Received:
    577
    Joined:
    Jun 30, 2007
    You're right. That top line had nine tests/touches. My thinking was that if it did break to the upside it would be a big move. Obviously it failed and now we have a true move outside the lines (close<line).
     
  16. Logique

    Logique Investor

    Posts:
    4,084
    Likes Received:
    500
    Joined:
    Apr 18, 2007
    I'm also wondering if this is the start of a downward failure from the triangle pattern. At 5,730, a critical juncture.
     
  17. Gringotts Bank

    Gringotts Bank

    Posts:
    6,163
    Likes Received:
    577
    Joined:
    Jun 30, 2007
    The other night I had a dream about the 18th as a date of significance. Not sure what month. Still getting my psychic app business up and running. :cool:
     
  18. Logique

    Logique Investor

    Posts:
    4,084
    Likes Received:
    500
    Joined:
    Apr 18, 2007
    That looks like a breakdown of any idea of a wedge or triangle pattern in the XAO. Downside target is the height of the mast isn't it?
    CBA share price looking sick, very influential on the domestic index, as with all the majors.XAO_27Sept2017.png
     
  19. Logique

    Logique Investor

    Posts:
    4,084
    Likes Received:
    500
    Joined:
    Apr 18, 2007
    I admit that I'm too prone to noodling on the General Chat forum. So, I now comment on the all Ords XAO Tech Analysis - in Bullish fashion. In the near term, I can't see 6,000 pulling it up. Look at the attached long term chart, marked with my own hypothesis of long-term ascending triangle.

    Doubtless Tech/a will take me to task on my primitive TA skills. Momentum. Just momentum. See long term chart below, with my hypothetical ascending triangle marks in green.
    XAO_quarterly_Oct2017_mark.png
     
  20. Logique

    Logique Investor

    Posts:
    4,084
    Likes Received:
    500
    Joined:
    Apr 18, 2007
    That's more like it today! Holding above 6,100
    XAO_1Feb2018.PNG
     
Loading...

Share This Page