Continuation breakout thread

[Nortorious]

i think i should start following this thread as well.

just wondering, do you people also buy stapled securities, areits etc? they come up all the time in my scanned lists.

Not sure what they are grah33 so I'm guessing not....

ASX equities is all I need to trade at the moment.

 

[pixel]

VSC:

https://www.aussiestockforums.com/forums/asset.php?fid=63568&uid=33483&d=1451515691

For chart and rationale, see VSC thread.

 

[Nortorious]

WAX presented as a good opportunity... See chart below for more info. You can see that it extended beyond a previous high on last week's action. volume was lower last week due to the reduced trading hours but was still better than the previous week.

I entered this stock this morning for my trading account and managed a nice entry of 1.295. Risk on the position sits at around 4% and given it is a continuation buy, I would be hoping to get around 30% or more profit but you never know where these can end up given there is no real price target to gauge from background activity at higher levels (blue sky above).

 

[Nortorious]

Another good opportunity you have identified here Pixel with RYG.

If these are the types of set-ups you like, you might like to check out CCF also.

Hopefully you jumped onboard CCF Pixel...

It shot up today by 72% and since the date I mentioned it, it is up 131%.

I bought in at 0.048 at the start of November and since then have received a healthy profit of 295%!!! And it is still pointing further North.

If only the overall market was looking as healthy.

 

[Nortorious]

TWE ripe for further extension North. A really positive day today with a new high achieved with some increase in the volume activity supporting the move.

View attachment 65110

TWE has been a good earner. 60% growth plus dividends.

 

[Nortorious]

So tech/a you would be expecting the stock to continue heading upwards?

My confidence level in it heading north is probably not high enough to warrant trading it. If I was already in then it wouldn't matter so much, only when it starts to curve over and flatten out.

I look forward to hearing more on your thoughts with the matter of volume etc.

Here's a trade opportunity I see for tomorrow and the weeks ahead with the continuation breakout I look for. As this chart below shows, has closed above $5.80 on last weekly bar at $5.88. Rsi increasing, and moving average trending upwards (and price is above it). We'll see where it goes...

View attachment 60115

Another trade that I identified, got in, got out and stayed out... only to see it up at $9.00 today!

 

[Nortorious]

New breakout opportunity presented today. ALU moved above the previous range where the high was $3.14. I got into the trade this morning with an at market purchase at $3.15.

Following the entry, the stock moved to a intraday high of $3.24 and closed at $3.17 showing a small profit for the first session of the holding.

Trading off the weekly chart but took the entry using the daily. Weekly chart below shows the overall activity and the stop will sit around $2.68 for now.

Weekly chart
View attachment 60312

Daily chart
View attachment 60313

Initial target is $4.00 from past action way back in 2001 and if it moves through this area, will be watching it again at $4.48ish.

We'll see what happens...

ALU now up around $6.35.... Reviewing these opportunities tells me I need to be trading these!

 

[Nortorious]

View attachment 65389

Basic analysis of AGL. Moved above res. point from way back and increasing volume. I like the breakout.

AGL a slow and steady climb plus dividends. Currently at 18.71

 

[Nortorious]

So after looking at this thread and the slow death it had thanks partly to me not adding anything new and a pretty slow market for these trades, I'll be trying to revive this and get it going again. It should work in well with peter2's thread given they types of trade set ups.

 

[Boggo]

Doesn't seem to be much commentary on poor old TLS amidst all the doom and gloom.

(click to expand)

 

[Nortorious]

Doesn't seem to be much commentary on poor old TLS amidst all the doom and gloom.

(click to expand)

I would say this is still feeling the impact of the doom and gloom that hit TLS and some of the other larger stocks over the past few months.

Looking at the weekly chart, I would have no interest in buying this until it got above the highs for early 2015. Only then would it become a continuation breakout trade. Given the inability to break through the short term resistance (at this stage), it could quickly head back down so if you are trading it, keep a tight stop on it...

 

[Boggo]

...
Looking at the weekly chart, I would have no interest in buying this until it got above the highs for early 2015. Only then would it become a continuation breakout trade. Given the inability to break through the short term resistance (at this stage), it could quickly head back down so if you are trading it, keep a tight stop on it...

In theory expecting a dip into the sub 5.53 area followed by a turn back up. My weekly system may trigger a signal when it breaks above 5.79, until then short term hit and run seems to work. Time will tell I guess.

(click to expand)

 

[Nortorious]

In theory expecting a dip into the sub 5.53 area followed by a turn back up. My weekly system may trigger a signal when it breaks above 5.79, until then short term hit and run seems to work. Time will tell I guess.

(click to expand)

Ok so you are trading with a short term view for this and a potential long term hitter if it rises well. Nice idea and with dividends that are usually pretty good, if you can get on a long term trend you will be laughing.

Nice signature by the way

 

[Toyota Lexcen]

I switched some money from a reit into tls, got them at 5.15 about 3 weeks ago,

Hoping it keeps going to high $6's, fingers crossed they announce an extra dividend

 

[Wysiwyg]

I switched some money from a reit into tls, got them at 5.15 about 3 weeks ago,

Hoping it keeps going to high $6's, fingers crossed they announce an extra dividend

Sorry mate. No special divvy because the extra cash will be used to placate angry Telstra network subscribers after another outage.

 

[Toyota Lexcen]

no way, stuff em

 

[History Repeats]

I think i read somewhere business insider i think Yesterday TLS going to be short of 2-3 billion on profit for the next few years due to NBN. BTW great post by TA on page one.

 

[Nortorious]

A few stocks either setting up or already in continuation breakouts: RMS, AGL, AWV.

Sending from my phone so can't post charts sorry.

 

[grah33]

Hi Nort,
been a while . this is another thread i've got to catch up on. was just wondering, as a trend follower, do you have a high take profit, something like e.g. 5R , or perhaps you just let them run as far as they can go (possibly higher, wait till the trailing stop loss calls for an exit) ? just curious as to what you do. i know there are no rules as such, but i'm just wondering. thx

 

[Nortorious]

Hi Nort,
been a while . this is another thread i've got to catch up on. was just wondering, as a trend follower, do you have a high take profit, something like e.g. 5R , or perhaps you just let them run as far as they can go (possibly higher, wait till the trailing stop loss calls for an exit) ? just curious as to what you do. i know there are no rules as such, but i'm just wondering. thx

I tend to hang on until the trailing stop takes me out. It means that you don't sell at the highest point but trying to pick that is a fools game. I usually use a 30 week weighted moving average as my sell indicator, once it has dropped below that, I watch the action and then either sell or hold (as it can quickly rebound from this point).

No hard and fast rules you are right, but this is one I use and it seems to go alright. I'm sure there are better methods but this one was thanks to Stan Weinstein's book...