Potential Breakout Alerts!

[Sean K]

Re: POTENTIAL BREAKOUT Alerts

Still hanging in there. Touched 280 again this am. Must be holding up because of defensive attributes. To be honest, I'm not sure what this will do if it does break through anyway. It's not digging for uranium as far as I know, so any 'breakout' will probably be more a gentle climb to all time highs. MACD crossing how it is is very positive IMO.

Still, holding off from buying more until the dust settles on the market. Too volitile for my liking. Who knows what will hapen over the weekend??

Hit 286, so I'm in for a few more against my better judgement that the correction is not over. Purely a discrete discretionary chart trade, expecting the momentum to carry it on to all time highs and further. Recent volume is encouraging too. Might lose all my $$ too.

 

[zaskar]

Re: POTENTIAL BREAKOUT Alerts

Hi zaskar. Not really a potential breakout. Maybe when it's closer to 9 and then 10 cents. Should probably be in the AUZ thread.

k no worries. Did just rise 15% to 85 though, so it's almost there!

 

[constable]

Re: POTENTIAL BREAKOUT Alerts

k no worries. did just rise 15% to 85 though, so it's almost there!

Maybe we should call it a Potential Recovery Alert!

 

[Sean K]

Re: POTENTIAL BREAKOUT Alerts

I mentioned AIX earlier as a potential and I think it has now broken through although not convincingly. Not finishing on it's high for the day is not so great. Certainly not 'outstanding' by any means, but nevertheless, just thought I'd put a chart up to show where the support and resistance lines are and why this is a potential, or maybe, breakout.

I initially bought this in Jan 06 on what should have been support, but it failed. It then hit the next level of support where I topped up expecting a bounce (luckily it did). I have since topped up on each clear break of resistance indicated in the circles.

Remember though, this is not going to discover the next Olympic Dam (it owns airports), so even if it has 'broken out' it will probably only waddle off into the blue sky, pending the general market.

Or, maybe it's had it's time in the sun. Last few months have been very solid growth in passenger numbers at the airports it owns, and this could well taper off. For a FA view of this, best to go to their website and broker reports etc.

Having said all the above, I'm expecting the market to correct further so I feel it's risky to be buying anything at the moment.......

Hhhmmm, perhaps this should be in it's own thread. Anyway, it's here to show the 'potential' breakout.

DYOR, blah, blah....

 

[CanOz]

Re: POTENTIAL BREAKOUT Alerts

I mentioned AIX earlier as a potential and I think it has now broken through although not convincingly. Not finishing on it's high for the day is not so great. Certainly not 'outstanding' by any means, but nevertheless, just thought I'd put a chart up to show where the support and resistance lines are and why this is a potential, or maybe, breakout.

I initially bought this in Jan 06 on what should have been support, but it failed. It then hit the next level of support where I topped up expecting a bounce (luckily it did). I have since topped up on each clear break of resistance indicated in the circles.

Remember though, this is not going to discover the next Olympic Dam (it owns airports), so even if it has 'broken out' it will probably only waddle off into the blue sky, pending the general market.

Or, maybe it's had it's time in the sun. Last few months have been very solid growth in passenger numbers at the airports it owns, and this could well taper off. For a FA view of this, best to go to their website and broker reports etc.

Having said all the above, I'm expecting the market to correct further so I feel it's risky to be buying anything at the moment.......

Hhhmmm, perhaps this should be in it's own thread. Anyway, it's here to show the 'potential' breakout.

DYOR, blah, blah....

Great chart Kennas. Shows to me clear rejection of the previous high probe, but it is Friday.

Cheers,

 

[chops_a_must]

Re: POTENTIAL BREAKOUT Alerts

Ever noticed how closely some of the CSM stocks are tracking each other? Take a look at the AOE, MEL, ESG and MPO charts. Unfortunately, what I wanted for AOE is not good for the others i.e. tight range on volume. Got the consolidation, just not the volume for AOE. Don't think it is going to matter in the long run somehow though. Anyway, does anyone know what was with the volume for QGC? Was it the buyback starting? If not, could have explained the lack of volume in the other CSM stocks. Damn thief! And once again, QGC is the exception to the rest of the sector.

This move up hasn't been on huge volume, and that's what is worrying me. BUT, if you look at the chart closely you will notice that basically ALL of the rising days have had larger volume. It is tightly held, has been trading in a very narrow band and any weakness has been pounced upon by buyers. I suspect that the continual lack of sellers on this one will only see larger volumes moved over the next few days. So this just could be a build up of momentum, as good news has flooded this one recently.

Like I was saying with MEL, volume is the issue. And it is going to need good volume to get above 90c. However, weakness and impatience was pounced upon again. Not many sellers chasing it down. Same story with ESG. So... 50/50 call on consolidation and further upside, or a top for this run. Hey, I aint sneezing at 10%+ in a day on MEL!. Actually wouldn't mind it dipping again. Maybe just getting greedy . Anyway, yes, 50/50 call.
MEL:


ESG:


And I may just keep QGC for a little while longer yet....

 

[Sean K]

Re: POTENTIAL BREAKOUT Alerts

Great chart Kennas. Shows to me clear rejection of the previous high probe, but it is Friday.

Cheers,

Yep, could be. Will be interesting for me to see where it goes, especially with the US off. Maybe back to sideways movement.

 

[IFocus]

Re: POTENTIAL BREAKOUT Alerts

Hi Kennas

Thanks for the chart always enjoy them

When you entered the 1st position what time frame were you thinking of holding for?

If the second level of support failed would you have closed out?

Where would you exit now should the correction gather pace

Thanks
Focus

 

[Sean K]

Re: POTENTIAL BREAKOUT Alerts

Hi Kennas

Thanks for the chart always enjoy them

When you entered the 1st position what time frame were you thinking of holding for?

If the second level of support failed would you have closed out?

Where would you exit now should the correction gather pace

Thanks
Focus

I'll start a AIX thread and put it in there.

 

[nizar]

Re: POTENTIAL BREAKOUT Alerts

PKT.
Reminds me of MLS at 4c.
Looks like a really good set-up at the moment, if it breaks 5c it could run.
In my opinion.

 

[smoothsatin]

Re: POTENTIAL BREAKOUT Alerts

Potential to buy on support: AWB, ALS, ABS, AXA

Potential ascending triangle brealout: AWB

 

[chris1983]

Re: POTENTIAL BREAKOUT Alerts

AGM would have to be classed as a potential breakout from here. Having a strong run back up from 55 cents I think it was after the start of the correction. It has been at this level (in the 70's) a number of times. Once we can break out above 72.5 it will run. Usually stocks coming into production such as AGM will tend to have positive runs the closer they bring the mine into production. Thats another reason why I bought into AGM. I knew it would only be a matter of time for some great returns.. theres still more to come yet IMO.

 

[Sean K]

Re: POTENTIAL BREAKOUT Alerts

AGM would have to be classed as a potential breakout from here. Having a strong run back up from 55 cents I think it was after the start of the correction. It has been at this level (in the 70's) a number of times. Once we can break out above 72.5 it will run. Usually stocks coming into production such as AGM will tend to have positive runs the closer they bring the mine into production. Thats another reason why I bought into AGM. I knew it would only be a matter of time for some great returns.. theres still more to come yet IMO.

Yep, looks good to keep going.

My only concern with anything at the moment is the data coming out of the US this week. Might significantly effect the market, more probably to the down side, IMO. So, any potential break at the moment might be thwarted by a general smashing of the market. I would love to buy this at the moment but I have my buy finger taped behind my back until Wednesday.

 

[chris1983]

Re: POTENTIAL BREAKOUT Alerts

Yep, looks good to keep going.

My only concern with anything at the moment is the data coming out of the US this week. Might significantly effect the market, more probably to the down side, IMO. So, any potential break at the moment might be thwarted by a general smashing of the market. I would love to buy this at the moment but I have my buy finger taped behind my back until Wednesday.

Thats a fair call Kennas. Your playing it safe thats all. Any negative data will cause a downturn and could push AGM down. If you can pick the right stock though.. which is like a needle in a haystack you can still make some great profits in this market. Maybe just dont put as much money into the stock if your worried about the downturns. AOE and AGM are two that have performed extremely well during these times. Even in a down market..they may initially get hit but fundamentals say there is no chance of them staying down. You only lose if you sell.

 

[CanOz]

Re: POTENTIAL BREAKOUT Alerts

AGM's also got a nice gap to fill on the chart, whats the bet that if it fails to breakout this time, it fills that gap? Things are gapping up and down all over the place lately.

Cheers,

 

[Sean K]

Re: POTENTIAL BREAKOUT Alerts

AGM's also got a nice gap to fill on the chart, whats the bet that if it fails to breakout this time, it fills that gap? Things are gapping up and down all over the place lately.

Cheers,

It's heading to it's second breakout perhaps. The lower circle was it's first move out of the short term down/side move and confirmed through horizontal resistance as well. MACD look great!

 

[ezyTrader]

Re: POTENTIAL BREAKOUT Alerts

It's heading to it's second breakout perhaps. The lower circle was it's first move out of the short term down/side move and confirmed through horizontal resistance as well. MACD look great!

Weekly flag formation...also has a long-term resistance at 73.5 (from 1997), if it can break thru all that, it looks good!

 

[ezyTrader]

Re: POTENTIAL BREAKOUT Alerts

Forgot to add, whether inclusion into ASX300 (announcement mentioned, on 17th March), will add impetus... + + +

 

[noobs]

Re: POTENTIAL BREAKOUT Alerts

EDE Announces 5 year indian contract awarded in relation to hythane.
Close of .68c previous all time high of .73c looks set to smash through this today! Indicative open of .71c with 50 minutes b4 market opens. Check out the Eden Energy thread for more info

 

[dubiousinfo]

Re: POTENTIAL BREAKOUT Alerts

EDE Announces 5 year indian contract awarded in relation to hythane.
Close of .68c previous all time high of .73c looks set to smash through this today! Indicative open of .71c with 50 minutes b4 market opens. Check out the Eden Energy thread for more info

TAS holds 33m Shares and 33m opies in EDE. At 70c for EDE and 50c for EDEO that represents a value of $40m or approx 36c per share for TAS. Now TAS looks like opening around 23c/24c. Thats a pretty hefty discount.