On 9 Jan, I wrote in a post that "AusGroup had a sell signal on the MACD on Thursday (7 Jan). In the near term, price seems set to go lower. Initial support is at 69c, a many times tested candlestick support level. The cluster of rising 20dMA, 50dMA and 100dMA, all within close proximity of each other, should limit downside to 66c which coincides with the 50% Fibo line."AusGroup
AusGroup closed at 68.5c in yesterday's session and is now hugging the 100dMA and the 20dMA supports which are at 68.5c and 68c respectively. MFI has formed a lower high indicating weakened buying momentum and the OBV has gone flat. Despite the ugly black candle formed in the last session, the uptrend is still intact. If the support at 68c gives way, next support is provided by the 50dMA at 66c.
The current uptrend is negated if price closes below 65c this week. From a technical perspective, the probability of this happening is rather low. Having said this, we want to see AusGroup forming a higher low to confirm the uptrend in the next few sessions. The previous low was at 63c on 23 Dec 09.
FAKE ASSI AK71 IN HWZ.
Featured blog.
1M50 CPF millionaire in 2021!
Ever since the CPFB introduced a colorful pie chart of our CPF savings a few years ago, I would look forward to mine every year like a teena...
"E-book" by AK
Second "e-book".
Another free "e-book".
4th free "e-book".
Financially free and Facebook free!
Subscribe To ASSI
Posts
Comments
Monthly Popular Blog Posts
-
It has been almost a month since my last blog post. I am serious about becoming more laid back and being less active in social media. The ga...
-
For those of you who follow me in my YouTube channel, you would know that something unfortunate happened recently to my father. So, I expect...
-
With DBS, OCBC and UOB doing so well in 3Q 2024, I had to take time off from gaming to produce a series of videos. For those of you who do n...
-
I didn't think there would be another blog post until the new year but I did something just now which would have surprised myself a few ...
-
In recent times, I have found it much easier to talk to myself on YouTube. It is faster than blogging. This explains the greater number of v...
All time ASSI most popular!
-
A reader pointed me to a thread in HWZ Forum which discussed about my CPF savings being more than $800K. He wanted to clarify certain que... -
The plan was to blog about this together with my quarterly passive income report (4Q 2018) but I decided to take some time off from Neverwin...
-
Reader says... AK sifu.. Wah next year MA up to 57200... Excited siah.. Can top up again to get tax relief. Can I ask u if the i...
-
It has been a pretty long break since my last blog. I have also been spending a lot less time engaging readers both in my blog and on Face...
-
I thought of not blogging about my 2Q 2020 passive income till a couple of weeks later because Mod 19 of Neverwinter, Avernus, just went liv...
Bloggy Award
2 comments:
Hello.....what do you think today opening Oceanus & BRC Asia ? JL
Hi JL,
Wow! You were up bright and early today. :)
I wish I had a crystal ball that could tell me such things. Unfortunately, I don't. :(
I recently did a TA for Oceanus, you might want to look at that post to get an idea of what I think.
As for BRC Asia, I just took a look at the chart. OBV fell off a cliff a few sessions ago. I think someone is distributing big time. A consolation is that the MFI is now oversold and most of the selling should be done by now. This does not mean that prices cannot go lower though. I see a longer term support at 16c on the weekly chart.
Post a Comment