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Greynomad99 Weekly ASX review

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DrBourse said:
NST – Their IV as at 15/2/22 was within the Range of $7.39 to $8.83.

Back on 14/3/22, Picking the $8.30 to $8.50 low was pretty easy – But picking NST’s next Support Levels is a Very Dangerous thing to do.

HOWEVER.

TA Traders will be looking at Support of abt $8.05, then abt $7.24, then abt $6.78.

Gold Traders will still be looking for ST Declines, but that obviously is dictated by numerous outside influences, IMO Putin will have the final say on where Gold goes to next, and not even Putin knows what he will do next.

ATM All ST, and most MT Inds are still dropping further into O’Sold Territory (Pages 37 - 43).

I would need to see at least 2 positive candles, and a substantial turnaround in the CCI Ind, (Pages108 & 109) and for my MFI Ind (Page 95) to cross up above its 50 Centerline B4 I jump onto the NST Train.

IMO, That turnaround could be this week, but most likely it will take weeks to happen.

View attachment 141434
Remember that the above is my personal opinion, it is not a recommendation, you must DYOR.
Cheers.
DrB
Click to expand...
Hmmm - NESRF, the NST ADR on the USA OTC was DOWN 4.72% again O'Nite - Move over GN I will be your Assistant Mushroom.:)
At Todays USD Rate that will take our NST to abt A$8.35.
 
The DOW did well until a Fed speaker said, quote: REPORT] Morning: US sharemarkets were mixed as traders assessed comments from several US Fed speakers including Cleveland Fed President Mester who said, "we don't rule out 75 [basis point rate hikes] forever.

Looking at last night's graph, lots of spikes up and down, moving downwards.........was up a few hundred points in early trading. The comments above spooked the market, but didn't end too badly. S&P 500 just on 4000, Nasdaq up 114, volatility remains elevated. Our spi minus 8

Divs, I saw your post about your buying into EVN. In the closing report yesterday by a mob I'm with, there was an upgrade from a broker/brokerss for EVN from neutral to overweight. I didn't post it, thought it was a bit rich.....target of 4.80? Too much for me. Good luck, divs
 
Well Friday the 13th didn't live up to its reputation! My weekly blog is here - https://sharecharting.com.au/blog-example
Most of the stocks I have been watching have had their charts damaged by the current (hopefully recent) correction and I've managed to find 8 new potential stocks to watch. Unfortunately, I haven't had time to post chart analysis to my site but the blog outlines why I think they might be worth watching.
 
Ah - another Friday and another blog to consider. Actually, I'm considering cutting back my weekly summaries as it is impossible to make much predictive sense of this market when there is so many headwinds. While I remain positive about the market, thoughts of a further drop of say 10% into a bear market and a sea of pain have been growing as international economic conditions continue to erode. I've quit a large part of my trades over the past few months and have just a few defensive holdings left that I'll persevere with - for now. I've run a simple educational 'how to trade for a profit' portfolio for 18 months and I'm going to close that this week as there is little more to learn from that exercise - other than I was probably right when I said a few months ago that given the market issues we probably shouldn't replace stopped out trades. But as an educational portfolio if we didn't keep trades turning over then the learning process would run down as well). The portfolio was up as much as 30% at one point but is currently only 15% in front (but that's a lot better than being behind when quite possibly we are (but might not be) at a market bottom.
When I skim through my large watch list of stocks, the general trend of everything is down and glimmers of light are hard to find. Positive chart patterns are in short supply and in a falling market they are less reliable.
In short, time for a rest.
 
Telamelo quote...
Good luck trying to fish NST for $8.30 or lower (Gold would need to crash imo & this ain't going to happen anytime soon)

Rabbithop quote...
Never say Never....NST did hit low of 7.87...My 8.30 looks expensive too..?

I salute to all....Going over at those charts...more than 90% prediction of stock prices hit the approx ranges..Well Done.
 
I haven't had much to say for the past couple of weeks as the market has continued to thrash around. However, to dispel theories I have fallen off my perch or found religion, I thought I'd better post a few thoughts. I did find a couple of stocks that might be worth a punt and several others that I have updated my comments on.

My blog can be found here: https://sharecharting.com.au/blog-example

I was going to say Happy New Financial Year but I suspect many share traders and investors won't be carrying sacks of gold to their bank this year. Oh well - another year is on its way. Good luck to all
 
LOL;) Its Thursday, you got me confuse with days of the week. Better late than never to read your weekly post. I don't think I am game enough to put more money into this uncertain market. Its been a huge downslide on my portfolio and will take a long time to recover.
I still believe that the ups are temporarily until the end of the year, best to learn sitting a bit longer, both hands on the bottom.
 
Morning to all, would have adding 'Good' to begin due to dry sun shinning but going to attend a funeral today making it inappropriate.
I do get where you are coming from, the old faithful are overpriced n still sinking, will take a long time to dry out n back to the glory days.
In the meantime, the new stocks, a handful as Trading stocks are doing not too bad. Didn't drop too much for the price to do a catch up..eg PLS, LYC, BRN, BPT, DEG to name a few. Noted RRL, for those who entered around below 1.50, seems to do good in yo yo and NST was tempting me to join them at the low of 6 plus?. I am still sitting both hand on my bottom.
 
Rabbithop said:
Telamelo quote...
Good luck trying to fish NST for $8.30 or lower (Gold would need to crash imo & this ain't going to happen anytime soon)

Rabbithop quote...
Never say Never....NST did hit low of 7.87...My 8.30 looks expensive too..?

I salute to all....Going over at those charts...more than 90% prediction of stock prices hit the approx ranges..Well Done.
Click to expand...
Hi Rabbit,
B careful with NST, @ $7.00 it is only just below its 15/2/22 IV Range of $7.30 to $8.83, Personally I look for stocks that are at a substantial discount to their IV, NST is not there just yet IMO. even then it is still still dangerous trying to calculate NST Bottom Price, as most TA suggests $6.00 is still possible.

However a lot of TA Types feel that NST is almost ripe enough, for them it's got 2 more hurdles to get past B4 any new ST Uptrend starts.
The following Chart shows what TA Types that use Indicators are looking for :-
- NST needs the CCI to "Close, and Hold Above its Zero Centreline" (that should happen by todays COB),
- AND its "MFI to Close and Hold Above its 50 Centreline" (that could take a few more days), .
1657247955708.png
This years financials will probably show NST's IV will be in the $6 to $7 Range, so a lot of traders will be waiting for that next low.
Cheers M8
 
DrBourse said:
Hi Rabbit,
B careful with NST, @ $7.00 it is only just below its 15/2/22 IV Range of $7.30 to $8.83, Personally I look for stocks that are at a substantial discount to their IV, NST is not there just yet IMO. even then it is still still dangerous trying to calculate NST Bottom Price, as most TA suggests $6.00 is still possible.

However a lot of TA Types feel that NST is almost ripe enough, for them it's got 2 more hurdles to get past B4 any new ST Uptrend starts.
The following Chart shows what TA Types that use Indicators are looking for :-
- NST needs the CCI to "Close, and Hold Above its Zero Centreline" (that should happen by todays COB),
- AND its "MFI to Close and Hold Above its 50 Centreline" (that could take a few more days), .
View attachment 143843
This years financials will probably show NST's IV will be in the $6 to $7 Range, so a lot of traders will be waiting for that next low.
Cheers M8
Click to expand...
Hi Dr B - I've been thinking gold should have come back into its own in these trying economic times, but not so. The precious metal seems about as popular as Boris Johnson. NST made a big head and shoulders which predicts a low of $0.88 (even I don't believe that) and the recent support break suggests $4.28 Having broken below that really strong level of support - to use a technical charting term it looks to be stuffed to me!
1657254557825.png
 
Greynomad99 said:
Interestingly, the new stocks I'm seeing make buy patterns are those I either haven't traded before - or at least not for a long time. Many of the old faithfuls are still taking water as the market sees them overpriced in this new economic world.
Click to expand...
I agree that it's unusual seeing so many bullish reversals in companies that don't impact the index. The market leaders are still struggling. This makes me wary and I'm cautiously buying a few but not many.
 
peter2 said:
I agree that it's unusual seeing so many bullish reversals in companies that don't impact the index. The market leaders are still struggling. This makes me wary and I'm cautiously buying a few but not many.
Click to expand...
Agreed. While there is nothing other than a bit of a bounce of a strong level of support to support the argument I feel the XAO may have bottomed.
 
DrBourse said:
Hi Rabbit,
B careful with NST, @ $7.00 it is only just below its 15/2/22 IV Range of $7.30 to $8.83, Personally I look for stocks that are at a substantial discount to their IV, NST is not there just yet IMO. even then it is still still dangerous trying to calculate NST Bottom Price, as most TA suggests $6.00 is still possible.

However a lot of TA Types feel that NST is almost ripe enough, for them it's got 2 more hurdles to get past B4 any new ST Uptrend starts.
The following Chart shows what TA Types that use Indicators are looking for :-
- NST needs the CCI to "Close, and Hold Above its Zero Centreline" (that should happen by todays COB),
- AND its "MFI to Close and Hold Above its 50 Centreline" (that could take a few more days), .
View attachment 143843
This years financials will probably show NST's IV will be in the $6 to $7 Range, so a lot of traders will be waiting for that next low.
Cheers M8
Click to expand...
Hi Dr. Thank you for your post. NST will have to wait for me. May be tempted bet 5 to 6.
Whoa! GN comment about 4 plus..Holy Molly. It's CRAZY
 
Rabbithop said:
Hi Dr. Thank you for your post. NST will have to wait for me. May be tempted bet 5 to 6.
Whoa! GN comment about 4 plus..Holy Molly. It's CRAZY
Click to expand...
NST (along with just about every other stock) kicked up this week but it has not yet made any buy pattern - in fact having made its lowest price for 4 years, theory says it still has a high probability of making lower prices.
 

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