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Looks to be setting up for a breakout higher...
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softly softly ^
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Recent price action on MLX looks encouraging stair stepping up for a breakout, I'll put on a trade to buy the breakout and follow trend with a trailing stop.
Tin price is looking very positive, which adds more evidence to validate the trade setup for MLX:
Tin price is looking very positive, which adds more evidence to validate the trade setup for MLX:
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and things i like to see on my credit card "Interest Bearing Liabilities -43.65%"
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MLX was bought as it was breaking out to the upside and is back in the Speculative Stock Portfolio.
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Apac fills the tank almost 20% of MLX
news that fits the trend and not a reason to sell the strength
news that fits the trend and not a reason to sell the strength
Sean K
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Buy and hold or trade plan?
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In speculative portfolio, every stock is traded. Proof is we sold out of this stock recently only to buy the breakout once again as the company fundamentals didn't change when the original trade didn't work out.
It looks like a profitable trade at the moment buying the breakout, this time around
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relatively speaking (above)
$JJT (CBOE)
$XJO
$XGD
very likeable (below)
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Sean K
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This has been fantastic to watch, just wish I was on board. Not sure why I didn't jump on, maybe preserving cash for a breakdown and saw better value elsewhere. But, I've been wrong. This has been a champ. Nice and steady, nothing crazy, just onward and upward...Great pick @aus_trader
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Thanks @kennas
Could have easily sat on the sidelines because the first attempt in the speculative portfolio earlier got stopped out. The turn-around in the company fundamentals provided sufficient conviction to dust off the losses and have another go.
Sean K
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Thanks @kennas
Could have easily sat on the sidelines because the first attempt in the speculative portfolio earlier got stopped out. The turn-around in the company fundamentals provided sufficient conviction to dust off the losses and have another go.
I wonder if anything else contributed to MLX going up like that? ?
?
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even with $xjo in sell mode, $MLX should keep its upwards trajectory, until the value has been squeezed out
www.tradingview.com
ASX:MLX Chart Image by traderjazzhands
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even with $xjo in sell mode, $MLX should keep its upwards trajectory, until the value has been squeezed out
ASX:MLX Chart Image by traderjazzhands
the 0.345 level is a ratio and structural level, its a normal retracement, a 1 to 1 (simple abc)
snapping 345's would be critical for the upside, out at .340's for mine if that prints (excluding the SPA)
todays a no-window-dressing end of month sell across the board locally,
i suspect we'll see some support come in for mlx on monday 1st
the CRB is about to hit a standard 38.2% retrace level 244 (Reuters) and has been in a very tight channel
with TIN being on a high and sentiment for TIN and MLX on a general high it is important to stick to a trading plan
so long as the .345 soldifies nothing to do
gold is clearly in a funk, so too palladium, the rocketing of TIN has been stellar in comparison but it commods come completely off the boil thru the CRB lens then its smart to trim/pare/scale/exit to lock in profits
#idea
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ASX:MLX Chart Image by traderjazzhands
construct, levels and channel says more upside
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$major indexes are in bale mode, decent stocks will pare backa few % as managers rebalance/adjust (some on margin)
if the construct of a trend is good it should afford the range to pare and then eventually value take it back on course
if the construct of a trend is good it should afford the range to pare and then eventually value take it back on course
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most holders have rec'd the proxy forms and necessary updates etc
technically the generic indicia suggest a weaker higher high weekly basis
... if we look at the structure pov it belies data based on volume alone
www.tradingview.com
technically the generic indicia suggest a weaker higher high weekly basis
... if we look at the structure pov it belies data based on volume alone
ASX:MLX Chart Image by traderjazzhands
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$mlx price may want to take some time to track sideways as expansion taps the roof of the channel, structure says we have a few more shekels to go, if we close above the channel we can expand x 2
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the sideways move has a wide zone to play in, if the daily summation can keep the longtails the higher vpoc will dominate
and allow quicker price discovery as sellers accept higher prices and buyers chase, regardless the fundamental outlook
and allow quicker price discovery as sellers accept higher prices and buyers chase, regardless the fundamental outlook
