Outstanding Breakout Alerts!

[Joules MM1]

GEM worth taking a gander at, wanted to post a link but the narration in the link is substandard

 

[aus_trader]

I have been very quiet lately on this thread, not because there isn't good looking breakouts, but the current macro (China worries) environment is something to keep in mind when putting risk on... even for breakout trading.

But certain themes are playing out that may be somewhat less affected by these macro themes and I may post out the odd breakout every now and then...

That's until we have a clear picture that Real Estate developers are building like crazy again and the middle kingdom citizens are snapping them up like hot cakes again... Then I'll be posting breakouts like crazy again as well... ?

Silver stocks are showing signs of strength, here's one asx junior:

ARD:


Rare Earth stocks are having another go, after having some China slowdown worries I suppose...

NTU:


Came across NTU a bit late I suppose, just saw the gap up today. So below is another couple of RE stocks just breaking out...

IXR:


ARR:

 

[aus_trader]

Lackluster market at the moment with a few nasty surprises lurking around. For example I used to have some shares of CDA, but would have been very unpleasant to see the share price today...


Thankfully we are in the good books on this occasion, and our last breakout trade BYE is the best performer on the All Ords...



BYE:


Some other Oil peers are also showing strength and about to break out...

COE:

 

[aus_trader]

BYR has taken a tumble, not having the best market conditions for Breakout Trading at the moment as I mentioned several times recently.

Not sure if the following breakouts will go higher, hope those that I hold (disclosed below) will... ?

NC6:


HT8:


SHJ:


Disclosure: HT8 and SHJ are held in the speculative portfolio.

 

[Greynomad99]

BYR has taken a tumble, not having the best market conditions for Breakout Trading at the moment as I mentioned several times recently.

Do you mean BYE. I looked at this one around a month ago and came up with a target of $0.164 as per the chart below. It met this perfectly (although I didn't trade the stock as it is too speculative for my trading plan). I usually expect prices to fall back after achieving target, so no suprises there, and speccies tend to fall more heavily than larger cap stocks.



I'm just marking time at the moment having had a couple of good weeks (and not expecting those conditions to continue). I'd like to close out some of my trades that are in profit but waiting for the recent rally (if that's what it is) to fizzle out.

 

[aus_trader]

Do you mean BYE. I looked at this one around a month ago and came up with a target of $0.164 as per the chart below. It met this perfectly (although I didn't trade the stock as it is too speculative for my trading plan). I usually expect prices to fall back after achieving target, so no suprises there, and speccies tend to fall more heavily than larger cap stocks.

View attachment 132393

I'm just marking time at the moment having had a couple of good weeks (and not expecting those conditions to continue). I'd like to close out some of my trades that are in profit but waiting for the recent rally (if that's what it is) to fizzle out.

Yes BYE, I had a typo...

You had it predicted pretty well.

Oil / Gas turning back up again, so there's a chance it may retest that high...?

 

[Greynomad99]

Yes BYE, I had a typo...

You had it predicted pretty well.

Oil / Gas turning back up again, so there's a chance it may retest that high...?

While Energy was powring higher recently it looks as if it has hit the skids again - down 4% overnight I think I saw somewhere. With supplies of oil 'managed' by a relatively small cartel of suppliers, the value of our energy stocks can be quite volatile. Perhaps good for the day traders but a pain in the arse for short/medium term traders like me.

 

[Greynomad99]

Speaking of potential breakouts, I've been watching the ANZ as it has made this quite unusal (for a bank) tight flag pattern for several months. Now making its fourth approach to the top boundary of that pattern - will it break out? I've found the fourth try at a pattern break can often be the one. That said If you had jumped into this pattern 6 months ago you'd be getting pretty tired of it by now. Such a long pattern suggests a big jump when/if it does move and while the ANZ is sloth-like in its moves I think that banks are probably in for a rally. Rising rates usuall mean bigger margins before the eventual bad debts kick in.
Assuming a break T/A suggests an interim target of $32.20 with a higher secondary target of $36.10
For those who don't like the roller-coaster ride offered by speccies then the ANZ could be worth watching.

 

[aus_trader]

While Energy was powring higher recently it looks as if it has hit the skids again - down 4% overnight I think I saw somewhere. With supplies of oil 'managed' by a relatively small cartel of suppliers, the value of our energy stocks can be quite volatile. Perhaps good for the day traders but a pain in the arse for short/medium term traders like me.

Have to agree with the "pain" bit in terms of breakouts not following through lately.

I don't day trade either.

 

[Sean K]

Speaking of potential breakouts, I've been watching the ANZ as it has made this quite unusal (for a bank) tight flag pattern for several months. Now making its fourth approach to the top boundary of that pattern - will it break out? I've found the fourth try at a pattern break can often be the one. That said If you had jumped into this pattern 6 months ago you'd be getting pretty tired of it by now. Such a long pattern suggests a big jump when/if it does move and while the ANZ is sloth-like in its moves I think that banks are probably in for a rally. Rising rates usuall mean bigger margins before the eventual bad debts kick in.
Assuming a break T/A suggests an interim target of $32.20 with a higher secondary target of $36.10
For those who don't like the roller-coaster ride offered by speccies then the ANZ could be worth watching.

That's a really interesting long term set up, 99. The breakout from that could be much higher perhaps.

 

[Country Lad]

CG1 breakout. Yesterday's chart

 

[Sean K]

 

[Sean K]

 

[Sean K]

RED.

Just coming off peak, so might pay to watch.

 

[frugal.rock]

PEK
With the announcement today, and despite ree not being today's flavour, it looks like this will have a slow melt up to somewhere closer to the acquisition price.

Volume currently over a 6 month high after 1.25 hours of trading....

As posted in PEK thread by @Sean K , from this morning's announcement;

"Shenghe Resources has agreed to acquire a 19.9% interest in Peak from Appian
• The acquisition is priced at A$0.99 per share, representing a 24.5% premium to the last closing price of Peak shares



Edit.
Caveat.
*Overall market conditions pending. It's a jungle out there!

 

[Greynomad99]

As I was checking on the market just now it looks as if the XAO has been building a pennant pattern today. It'll be academically interesting to see if pattern theory that says most patterns like this break higher is correct.

 

[Country Lad]

MRM over here

 

[finicky]

Looks like @aus_trader has left us? That's a pity

Challenger (CGF)

 

[aus_trader]

Looks like @aus_trader has left us? That's a pity

Challenger (CGF)
View attachment 140677

I certainly haven't left @finicky. Overall market has been in a decline or in a sideways market for most of 2022 both here and in the US.

So, I thought it was prudent to skip posting outstanding breakouts in that sort of an environment. Based on past experience, breakouts have the best odds of continuing higher if the overall market is bullish.

Looking at the past few weeks of price action, on the All Ordinaries there is bullish price action on the chart:



Therefore, I will post a couple of charts that are breaking out...

Firstly, does anyone remember a member of ASF named "Tinhat" ? He was posting often about his favorite Silver Stock on the market back in the day, Adriatic Metals PLC (ADT). So, I kept it in a watchlist just to monitor. Now that Silver price has strengthened of late, that stock is breaking out:



Construction and mining contractor NRW Holdings Limited (NWH) is also breaking out from a wedge pattern:

 

[aus_trader]

Market has broken to the upside, further confirmed by a Higher-High:



It's worthwhile looking for possible trading candidates, although I don't always buy breakouts. I am happy to look for breakout setups to do further research on those stocks. My hypothesis is that if a stock is breaking out higher especially in an overall bullish environment, then there might be something driving that price movement such as news or sentiment around the stock or improving fundamentals which could be investigated further...

I will post some of those breakouts as I come across them. They may pique my initial interest in looking deeper into reasons for share price appreciation and could form potential future trading candidates in the trading portfolio Speculative Stock Portfolio.

Few breakouts that I saw include medical/biotech stock AVITA Medical Inc (AVH):



Volpara Health Technologies Ltd (VHT) gapping up higher:



DroneShield Ltd (DRO):