ASX stock gap plays alert

[skc]

Thought I'd start a new thread posting possible gap plays on the ASX. There are only three guidelines for this thread:

1. Do post a chart
2. Explain the play - fade the gap, or play the retracement on gap being filled
3. I hope this thread will look similar to the "Potential Breakout Alert" thread. i.e. with many charts. You can discuss the merits of gap strategies here, but just keep it short.

For the purpose herein, I have defined gaps as an openning price that is higher than previous day's high, or lower than previous day's low. That is, a true gap in the charts.

I will get the ball rolling... and look forward to everyone's contribution.

 

[skc]

Here's one that could still be a good retracement play. Gap filled and now acting as support. Note the support happens to coincide with the Fib retracement level.

 

[skc]

ILU had big gap down last month. Clear short term resistance developing at $3.4. If market is strong overall the gap may be closed.

Overall chart looks weak, and the top of the gap rests on a resistance ~$3.8. So may be a short trade on the gap closing?

 

[skyQuake]

ABY's gap play took a while but it went well when it finally took off. If you're looking at fibs, worthy to note today's high is the 50% Fib from the high to this swing low.

ILU looks like a triangle break to the downside, which is failing to tumble down. However if it can break the 3.40 mark; that's gonna be a lot of shorts being squeezed and we might very well see the gap closed.

Cheers